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A Dual Dutch Auction in Taipei: The Choice of Numeraire and Auction Form in Multi-Object Auctions with Bundling.

机译:台北的双重荷兰拍卖:捆绑式多对象拍卖中的数字和拍卖形式选择。

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摘要

In Taipei we observed a dual Dutch fish auction, like a conventional Dutch auction with bundling, but with reversed roles of price and quantity. We study dual and conventional auctions with symmetric, independent private values, when agents’ utilities are linear in money but strictly concave in fish. With known buyers’ values, conventional and dual auctions, English or Dutch, are equivalent. With values known to buyers but not the seller, the seller prefers conventional auctions. With private values, the seller can prefer a dual Dutch or a conventional English or Dutch auction, but prefers all three to a dual English auction.
机译:在台北,我们观察到荷兰鱼的双重拍卖,就像荷兰传统的捆绑拍卖一样,但价格和数量却相反。我们研究具有对称,独立私人价值的双重拍卖和常规拍卖,而代理商的效用在货币中是线性的,而在鱼类中却是绝对凹入的。在具有已知买家价值的情况下,英语或荷兰语的常规拍卖和双重拍卖是等效的。在买方知道但卖方不知道的情况下,卖方喜欢常规拍卖。具有私人价值,卖方可以选择双重荷兰式拍卖或常规的英语或荷兰式拍卖,但相对于双重英语拍卖更喜欢全部三个。

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