Existence of monotone equilibrium in first price auctions with private risk aversion and private initial wealth

DOI10.1016/j.geb.2015.07.003zbMath1347.91155OpenAlexW1014540180MaRDI QIDQ894631

Jingfeng Lu, Matthew Gentry, Tong Li

Publication date: 2 December 2015

Published in: Games and Economic Behavior (Search for Journal in Brave)

Full work available at URL: http://eprints.lse.ac.uk/66100/

zbMATH Keywords

first price auctioninitial wealthmonotone equilibriumconstant absolute risk aversion (CARA)constant relative risk aversion (CRRA)

Mathematics Subject Classification ID

Auctions, bargaining, bidding and selling, and other market models (91B26)

Related Items (6)

How accurately do structural asymmetric first-price auction estimates represent true valuations? ⋮ Design of discrete Dutch auctions with consideration of time ⋮ Adversarial risk analysis for first‐price sealed‐bid auctions ⋮ Adversarial risk analysis for auctions using non-strategic play and level-k thinking: A general case of n bidders with regret ⋮ Pure-strategy equilibria in Bayesian games ⋮ Adversarial Risk Analysis for Auctions Using Mirror Equilibrium and Bayes Nash Equilibrium

Cites Work

• Auction market theory of heterogeneous bidders
• Risk aversion and asymmetry in procurement auctions: identification, estimation and application to construction procurements
• Quantal response equilibrium and overbidding in private-value auctions
• Numerical computation of equilibrium bid functions in a first-price auction with heterogeneous risk attitudes
• Inference of bidders' risk attitudes in ascending auctions with endogenous entry
• Semiparametric Estimation of First-Price Auctions with Risk-Averse Bidders
• On the Existence of Monotone Pure-Strategy Equilibria in Bayesian Games
• Distributional Strategies for Games with Incomplete Information
• On the Existence of Pure and Mixed Strategy Nash Equilibria in Discontinuous Games
• Single Crossing Properties and the Existence of Pure Strategy Equilibria in Games of Incomplete Information
• Risk Aversion in the Small and in the Large
• Isotone Equilibrium in Games of Incomplete Information

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