The role of information in auctions

IF 1 4区经济学 Q3 ECONOMICS

Journal of Mathematical Economics Pub Date : 2024-07-25 DOI:10.1016/j.jmateco.2024.103027

Alp E. Atakan , Mehmet Ekmekci

引用次数: 0

Abstract

This review discusses the seminal contributions of Engelbrecht-Wiggans et al. (1983) Milgrom and Weber (1982a) to the literature that studies the role of information in auctions. We describe the results in these papers and present several extensions. Much of the earlier literature on auctions takes the information environment as exogenous. The extensions that we present will demonstrate how the insights of Engelbrecht-Wiggans et al. (1983) and Milgrom and Weber (1982a) apply to the more recent literature on flexible information acquisition in auctions where the information structure is endogenously determined in equilibrium.

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信息在拍卖中的作用

本综述讨论了 Engelbrecht-Wiggans 等人（1983 年）、Milgrom 和 Weber（1982a）对研究信息在拍卖中的作用的文献的开创性贡献。我们将描述这些论文中的结果，并提出若干扩展。早期关于拍卖的文献大多将信息环境视为外生因素。我们提出的扩展将证明 Engelbrecht-Wiggans 等人（1983 年）以及 Milgrom 和 Weber（1982 年 a）的见解如何适用于最近关于拍卖中灵活获取信息的文献，在这些文献中，信息结构是在均衡状态下内生决定的。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Mathematical Economics 管理科学-数学跨学科应用

CiteScore

1.70

自引率

7.70%

发文量

审稿时长

12.5 weeks

期刊介绍： The primary objective of the Journal is to provide a forum for work in economic theory which expresses economic ideas using formal mathematical reasoning. For work to add to this primary objective, it is not sufficient that the mathematical reasoning be new and correct. The work must have real economic content. The economic ideas must be interesting and important. These ideas may pertain to any field of economics or any school of economic thought.