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Simultaneous auctions for complementary goods

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  • Wiroy Shin
Abstract
This paper studies an environment of simultaneous, separate, first-price auctions for complementary goods. Agents observe private values of each good before making bids, and the complementarity between goods is explicitly incorporated in their utility. For simplicity, a model is presented with two first-price auctions and two bidders. We show that a monotone pure-strategy Bayesian Nash Equilibrium exists in the environment.

Suggested Citation

  • Wiroy Shin, 2013. "Simultaneous auctions for complementary goods," Papers 1312.2641, arXiv.org.
    • Handle: RePEc:arx:papers:1312.2641
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    References listed on IDEAS

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    1. Rosenthal, Robert W. & Wang, Ruqu, 1996. "Simultaneous Auctions with Synergies and Common Values," Games and Economic Behavior, Elsevier, vol. 17(1), pages 32-55, November.
    2. Ausubel Lawrence M & Milgrom Paul R, 2002. "Ascending Auctions with Package Bidding," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 1(1), pages 1-44, August.
    3. Michal Bresky, 1999. "Equilibria in Multi-unit Auctions," CERGE-EI Working Papers wp145, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    4. Krishna, Vijay & Rosenthal, Robert W., 1996. "Simultaneous Auctions with Synergies," Games and Economic Behavior, Elsevier, vol. 17(1), pages 1-31, November.
    5. Bikhchandani, Sushil, 1999. "Auctions of Heterogeneous Objects," Games and Economic Behavior, Elsevier, vol. 26(2), pages 193-220, January.
    6. Athey, Susan, 2001. "Single Crossing Properties and the Existence of Pure Strategy Equilibria in Games of Incomplete Information," Econometrica, Econometric Society, vol. 69(4), pages 861-889, July.
    7. David McAdams, 2003. "Isotone Equilibrium in Games of Incomplete Information," Econometrica, Econometric Society, vol. 71(4), pages 1191-1214, July.
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