Abstract
I analyze an auction environment where two units of an object are sold at two simultaneous, sealed-bid, first-price auctions to bidders who have a one-dimensional type space, where a type represents the value a bidder places on each of the two units. All bidders have an identical budget constraint that binds their ability to spend in the auctions. I show that if the valuation distribution is atom-less then there does not exist any equilibrium in behavioral strategies in this auction game.
Original language | English |
---|---|
Article number | 428 |
Journal | International Journal of Game Theory |
Volume | 44 |
Issue number | 2 |
Pages (from-to) | 253-274 |
Number of pages | 22 |
ISSN | 0020-7276 |
DOIs | |
Publication status | Published - 2015 |