Menu Content/Inhalt
November 2017
M T W T F S S
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Search on Site

Events Print
previous year previous month next month next year
See by year See by month See by week See Today Search Jump to month
Luke Froeb, Vanderbilt Print
Monday, 11 December 2017, 11:00 - 12:00

Luke Froeb, Vanderbilt University

Horizontal Mergers in Optimal Auctions

Abstract: Following merger, an optimal mechanism discriminates against merging bidders with higher reserve prices and by allocating more often towards non-merging bidders. In this setting, we show that mergers always harm the auctioneer, benefit non-merging bidders, can increase total surplus, and have effects that decrease with increases in the auctioneer's reservation value, to the point where the merger can become unprofitable. Merger effects are also much smaller than in open auctions because bidders compete more against an optimal mechanism than they do against each other. As a consequence, there is less competition for mergers to eliminate. 

Homepage 

Location: R42.2.113
Contact: Nancy De Munck - This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Back