EL
Elliot Lipnowski
@elliotlip.bsky.social
To be specific, in the Dawes, Tomes, Mousely, Grubbs Fidelity Fiduciary Bank.
elliotlipnowski.com/
551 followers151 following161 posts
This example is a bit silly, though, because it loses two of the main desiderata of 2PAs: First, we've lost dominance: A bidder's willingness to bid as described in the bunching regions relies on the other bidder's complementary weird behavior there.
Second, we've lost some simplicity: Whereas the auction format only amounts to setting a reserve price, the desired equilibrium now depends in a detailed way on the type distributions.
EL
Elliot Lipnowski
@elliotlip.bsky.social
To be specific, in the Dawes, Tomes, Mousely, Grubbs Fidelity Fiduciary Bank.
elliotlipnowski.com/
551 followers151 following161 posts