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- W1855461279 abstract "We study a general model of common-value second-price auctions with differential information. We show that one of the bidders has an information advantage over the other bidders if and only if he possesses a dominant strategy. A dominant strategy is, in fact, unique, and is given by the conditional expectation of the common value with respect to his information field. Furthermore, when a bidder has information advantage, other bidders cannot make a profit." @default.
- W1855461279 created "2016-06-24" @default.
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- W1855461279 date "2000-11-01" @default.
- W1855461279 modified "2023-09-27" @default.
- W1855461279 title "Information Advantage and Dominant Strategies in Second-Price Auctions" @default.
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