보고서(전자자료)
Bidding in Uniform Price Auctions for Value Maximizing Buyers
- 카테고리
- 국외자료
- 개인저자
- Negin Golrezaei, Sourav Sahoo
- 발행기관
- MIT.CEEPR
- 발행년월
- 2024.07
- 페이지수
- 48p
- URL
요약
We study the problem of bidding in uniform price auctions, a widely used format in Treasury auctions, emissions permit auctions, and energy markets. Although uniform price auctions are non-truthful for bidders with quasilinear utility functions, several empirical findings suggest that this auction format induces truthful bidding from the bidders. We attribute this difference in theory and practice to the assumption of the behavioral model of the bidders.