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The set of equilibria of first-price auctions

Author

Listed:
  • Paulo Klinger Monteiro

    (EPGE-FGV)

Abstract
In this note I show that pratically any increasing function is the equilibrium bidding function of a symmetric first-price auction. It is like a Sonnenschein-Mantel-Debreu for auctions

Suggested Citation

  • Paulo Klinger Monteiro, 2004. "The set of equilibria of first-price auctions," Microeconomics 0403001, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpmi:0403001
    Note: Type of Document - Pdf file; prepared on Windows 2000; to print on hp; pages: 6; figures: none
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/mic/papers/0403/0403001.pdf
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    References listed on IDEAS

    as
    1. Emmanuel Guerre & Isabelle Perrigne & Quang Vuong, 2000. "Optimal Nonparametric Estimation of First-Price Auctions," Econometrica, Econometric Society, vol. 68(3), pages 525-574, May.
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    3. Elodie Guerre & I. Perrigne & Q.H. Vuong, 2000. "Optimal nonparametric estimation of first-price auctions [[Estimation nonparamétrique optimale des enchères au premier prix]]," Post-Print hal-02697497, HAL.
    4. Maskin, Eric & Riley, John, 2003. "Uniqueness of equilibrium in sealed high-bid auctions," Games and Economic Behavior, Elsevier, vol. 45(2), pages 395-409, November.
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    12. Robert Wilson, 1977. "A Bidding Model of Perfect Competition," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 44(3), pages 511-518.
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    14. Debreu, Gerard, 1974. "Excess demand functions," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 15-21, March.
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    More about this item

    Keywords

    first-price;

    JEL classification:

    • D1 - Microeconomics - - Household Behavior
    • D2 - Microeconomics - - Production and Organizations
    • D3 - Microeconomics - - Distribution
    • D4 - Microeconomics - - Market Structure, Pricing, and Design

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