Optimal nondiscriminatory auctions with favoritsm

Fil: Arozamena, Leandro. Universidad de San Andrés. Departamento de Economía; Argentina.

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Autores principales: Arozamena, Leandro, Shunda, Nicholas, Weinschelbaum, Federico
Formato: Documento de Trabajo Documento de trabajo draft
Lenguaje:Inglés
Publicado: Universidad de San Andrés. Departamento de Economía 2017
Acceso en línea:http://hdl.handle.net/10908/11947
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spelling I37-R143-10908-119472024-09-20T18:42:45Z Optimal nondiscriminatory auctions with favoritsm Arozamena, Leandro Shunda, Nicholas Weinschelbaum, Federico Fil: Arozamena, Leandro. Universidad de San Andrés. Departamento de Economía; Argentina. Fil: Shunda, Nicholas. Universidad de San Andrés. Departamento de Economía; Argentina. Fil: Weinschelbaum, Federico. Universidad de San Andrés. Departamento de Economía; Argentina. In many auction settings, there is favoritism: the seller ´s welfare depends positively on the utility of a subset of potential bidders. However, laws or regulations may not allow the seller to discriminate among bidders. We find the optimal nondiscriminatory auction in a private value, single-unit model under favoritism. At the optimal auction there is a reserve price, or an entry fee, which is decreasing in the proportion of preferred bidders and in the intensity of the preference. Otherwise, the highest-valuation bidder wins. We show that, at least under some conditions, imposing a no-discrimination constraint raises expected seller revenue. 2017-01-31T17:48:30Z 2017-01-31T17:48:30Z 2012-03 Documento de Trabajo info:eu-repo/semantics/workingPaper info:ar-repo/semantics/documento de trabajo info:eu-repo/semantics/draft http://hdl.handle.net/10908/11947 eng Documento de trabajo (Universidad de San Andrés. Departamento de Economía);110 info:eu-repo/semantics/openAccess https://creativecommons.org/licenses/by-nc-nd/4.0/ application/pdf application/pdf Universidad de San Andrés. Departamento de Economía
institution Universidad de San Andrés
institution_str I-37
repository_str R-143
collection Repositorio Digital - Universidad de San Andrés (UdeSa)
language Inglés
description Fil: Arozamena, Leandro. Universidad de San Andrés. Departamento de Economía; Argentina.
format Documento de Trabajo
Documento de trabajo
Documento de trabajo
draft
author Arozamena, Leandro
Shunda, Nicholas
Weinschelbaum, Federico
spellingShingle Arozamena, Leandro
Shunda, Nicholas
Weinschelbaum, Federico
Optimal nondiscriminatory auctions with favoritsm
author_facet Arozamena, Leandro
Shunda, Nicholas
Weinschelbaum, Federico
author_sort Arozamena, Leandro
title Optimal nondiscriminatory auctions with favoritsm
title_short Optimal nondiscriminatory auctions with favoritsm
title_full Optimal nondiscriminatory auctions with favoritsm
title_fullStr Optimal nondiscriminatory auctions with favoritsm
title_full_unstemmed Optimal nondiscriminatory auctions with favoritsm
title_sort optimal nondiscriminatory auctions with favoritsm
publisher Universidad de San Andrés. Departamento de Economía
publishDate 2017
url http://hdl.handle.net/10908/11947
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AT shundanicholas optimalnondiscriminatoryauctionswithfavoritsm
AT weinschelbaumfederico optimalnondiscriminatoryauctionswithfavoritsm
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