Journal article
EQUILIBRIA EXISTENCE AND CHARACTERIZATION IN AUCTIONS: ACHIEVEMENTS AND OPEN QUESTIONS
Journal of economic surveys, Vol.26(5), pp.911-932
12/2012
DOI: 10.1111/j.1467-6419.2011.00680.x
Abstract
Establishing existence and characterizing equilibria are both important achievements in the study of auctions. However, we recognize that equilibria existence results form the basis for well accepted characterizations. In this survey, we review the landmark results and highlight open questions regarding equilibria existence and characterizations in auctions. In addition, we review the standard assumptions underlying these results, and discuss the suitability of the Nash equilibrium solution concept. We focus our review on single-object auctions, but also review results in multi-unit, divisible, combinatorial and double auctions.
Details
- Title: Subtitle
- EQUILIBRIA EXISTENCE AND CHARACTERIZATION IN AUCTIONS: ACHIEVEMENTS AND OPEN QUESTIONS
- Creators
- Luciano I. de Castro - Northwestern UniversityDaniel H. Karney - University of Illinois Urbana-Champaign
- Resource Type
- Journal article
- Publication Details
- Journal of economic surveys, Vol.26(5), pp.911-932
- Publisher
- Wiley
- DOI
- 10.1111/j.1467-6419.2011.00680.x
- ISSN
- 0950-0804
- eISSN
- 1467-6419
- Number of pages
- 22
- Language
- English
- Date published
- 12/2012
- Academic Unit
- Economics
- Record Identifier
- 9984380559702771
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