Allocative and Informational Externalities in Auctions and Related Mechanisms ∗

@inproceedings{Jehiel2005AllocativeAI,
  title={Allocative and Informational Externalities in Auctions and Related Mechanisms ∗},
  author={Philippe Jehiel and Benny Moldovanu},
  year={2005}
}
We study the effects of allocative and informational externalities in (multi-object) auctions and related mechanisms. Such externalities naturally arise in models that embed auctions in larger economic contexts. In particular, they appear when there is downstream interaction among bidders after the auction has closed. The endogeneity of valuations is the main driving force behind many new, specific phenomena with allocative externalities: even in complete information settings, traditional… CONTINUE READING
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