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Creating a winner’s curse via jump bids

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11640%2F16%3A00463434" target="_blank" >RIV/00216208:11640/16:00463434 - isvavai.cz</a>

  • Result on the web

    <a href="http://dx.doi.org/10.1007/s10058-016-0187-z" target="_blank" >http://dx.doi.org/10.1007/s10058-016-0187-z</a>

  • DOI - Digital Object Identifier

    <a href="http://dx.doi.org/10.1007/s10058-016-0187-z" target="_blank" >10.1007/s10058-016-0187-z</a>

Alternative languages

  • Result language

    angličtina

  • Original language name

    Creating a winner’s curse via jump bids

  • Original language description

    We show that jump bids can be used by a bidder to create a winner’s curse and preserve an informational advantage that would otherwise disappear in the course of an open ascending auction. The effect of the winner’s curse is to create allocative distortions and reduce the seller’s expected revenue. Two novel features of equilibrium jump bids are derived. First, the jump bid may fail to hide completely the value of the common value component. Second, a bidder with a higher type might jump bid less frequently than a bidder with a lower type.

  • Czech name

  • Czech description

Classification

  • Type

    J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

  • CEP classification

    AH - Economics

  • OECD FORD branch

Result continuities

  • Project

  • Continuities

    I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Others

  • Publication year

    2016

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Name of the periodical

    Review of Economic Design

  • ISSN

    1434-4742

  • e-ISSN

  • Volume of the periodical

    20

  • Issue of the periodical within the volume

    3

  • Country of publishing house

    DE - GERMANY

  • Number of pages

    14

  • Pages from-to

    173-186

  • UT code for WoS article

    000381296100001

  • EID of the result in the Scopus database

    2-s2.0-84959338693