Successful uninformed bidding

Abstract

This paper studies multiunit common value auctions with informed and less informed bidders. In these auctions, we show that bidders with less information can bid very aggressively and do surprisingly well. We also show that the degree of aggressiveness and success of bidders with less information is positively related to the number of units for sale. We… (More)
DOI: 10.1016/j.geb.2003.09.002

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Cite this paper

@article{HernandoVeciana2004SuccessfulUB, title={Successful uninformed bidding}, author={{\'A}ngel Hernando-Veciana}, journal={Games and Economic Behavior}, year={2004}, volume={48}, pages={29-53} }