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A note on the wallet game with discrete bid levels

Goncalves, Ricardo and Ray, Indrajit 2017. A note on the wallet game with discrete bid levels. Economics Letters 159 , pp. 177-179. 10.1016/j.econlet.2017.07.032

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Abstract

It is well-known that in the wallet game with two bidders, bidding twice the (individual) signal is an equilibrium. We prove that this strategy is never an equilibrium in a Japanese-English auction once discrete bid levels are introduced; we also discuss the implications of this result.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > HB Economic Theory
Publisher: Elsevier
ISSN: 0165-1765
Funders: British Academy
Date of First Compliant Deposit: 11 August 2017
Date of Acceptance: 28 July 2017
Last Modified: 06 Jan 2021 17:45
URI: http://orca-mwe.cf.ac.uk/id/eprint/103343

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