Swiss Auctions
Bibliographic Data
| ID | 9721246 |
|---|---|
| Authors | Thomas Von Ungern‐sternberg (corresponding author), Thomas von Ungern-Sternberg |
| Year | 1991 |
| Volume | 58 |
| Issue | 231 |
| Pages | 341 |
| Publication date | 1991-08-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | JSTOR (PUBLISHER) |
| DOI | 10.2307/2554821 |
| OpenAlex | W4240963983 |
| Language | EN |
This paper studies a model of simultaneous sealed-bid multiobject auctions where the designated winner has the possibility of withdrawing his bid. It is shown that, when the bidders face rising marginal costs (a capacity constraint), the introduction of such a withdrawal option may lead to lower equilibrium prices. Furthermore, an increase in the slope of the marginal cost curve may lead to lower equilibrium prices
Business · Common value auction · Economics · Microeconomics · Merger and Competition Analysis
| Highly cited | No |
|---|