Private Information Revelation in Common-Value Auctions

Download or read book Private Information Revelation in Common-Value Auctions written by Vlad Mares and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: When a seller has information that could help bidders to estimate asset value, a dictum of auction theory has been that all such information should be publicly announced to bidders. The possibility of privately revealing this information to one or more bidders is introduced. Seller in some circumstances may attain higher expected revenue through revealing his information privately. Examples show that the role of private revelation is more complex than simply generating bidder asymmetry.