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Private Values

Flavio M. Menezes and Paulo K. Monteiro

in An Introduction to Auction Theory

Published in print:
2004
Published Online:
April 2005
ISBN:
9780199275984
eISBN:
9780191602214
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019927598X.003.0003
Subject:
Economics and Finance, Microeconomics

This chapter presents the Independent Private Values model, wherein bidders’ values for the object being auctioned off is a function of only their own types. The equilibrium bidding strategies and ... More


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