Econometrica Vol. 50 No. 5 1982
A Theory of Auctions and Competitive Bidding
Abstract
In Section 2, we review some important results of the received auction theory, introduce a new general auction model, and summarize the results of our analysis. Section 3 contains a formal statement of our model, and develops the properties of affiliated random variables. The various theorems are presented in Sections 4-8. In Section 9, we offer our views on the current state of auction theory. Following Section 9 is a technical appendix dealing with affiliated random variables.
- DOI
- 10.2307/1911865
- Volume
- 50
- Issue
- 5
- Pages
- 1089
- Sources
- bibtex:phds-export.bib crossref openalex