Talks
Fall 2015
Competition and Simple Auctions
Wednesday, October 14th, 2015, 11:45 am–12:15 pm
Location:
Calvin Lab Auditorium
I consider a setting where multiple sellers of an identical, indivisible good, compete for buyers by simultaneously announcing auctions. I partially characterize the equilibria among sellers in this setting. I show that the oligopoly equilibrium may be in simple (second-price) mechanisms, where the monopolists optimal auction may have been complex (ironing).