Review of Economic Studies Vol. 52 No. 3 1985
A Class of Dominance Solvable Common-Value Auctions
Abstract
Dominant strategies seldom exist in non-cooperative games. Moulin's concept of a dominance solvable game generalizes, dominant strategy without dramatic loss in appeal. We consider a class of common-value auctions characterized by the property that the maximum of a collection of informative signals is a sufficient statistic for the entire collection. We demonstrate that this class of second-price auctions is dominance solvable.
- DOI
- 10.2307/2297669
- Volume
- 52
- Issue
- 3
- Pages
- 525
- Sources
- openalex crossref