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 |