Auction Design with Advised Bidders
This paper studies efficient and optimal auction design where bidders do not know their values and solicit advice from informed but biased advisors via a cheap-talk game. When advisors are biased toward overbidding, we characterize efficient equilibria of static auctions and equilibria of the Englis...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
European Alliance for Innovation (EAI)
2016-12-01
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| Series: | EAI Endorsed Transactions on Serious Games |
| Subjects: | |
| Online Access: | http://eudl.eu/doi/10.4108/eai.8-8-2015.2260860 |