|
Applied Math Seminar Revenue equivalence of asymmetric auctions |
|
A key result in auction theory is the Revenue Equivalence Theorem, which says that under some general conditions the expected revenue of the seller in symmetric auctions is independent of the auction mechanism. In this talk I will present an extension of the Revenue Equivalence Theorem to the case of asymmetric auctions. Other topics to be discussed are analysis of asymmetric first-price auctions and the effect of risk aversion in all-pay auctions. This is a joint work with A. Gavious and A. Sela. |