Intermediate Microeconomics · 免费预览
拍卖形式与如实报价
四种经典拍卖形式——英式拍卖、荷兰式拍卖、密封报价第一价格拍卖、密封报价第二价格拍卖——在具体机制上有所不同，但在基准结果上并无差异；而在第二价格拍卖中，按照自己的真实价值出价是一种占优策略，这一机制设计的洞见具有一般性，可以推广。
1. Four ways to sell one thing
Four ways to sell one thing
2. Private values
Private values
3. Truth-telling in the second-price auction
Truth-telling in the second-price auction
4. What the seller should expect
What the seller should expect
5. Naming the formats
Which format lowers an announced price until a bidder stops the clock?
6. The private-values benchmark
What defines the private-values setting?
7. The truth-telling proof
In a second-price auction, why does bidding below your value hurt you?
8. Revenue equivalence content
What does the revenue equivalence theorem claim for the four formats?
9. English auction's stopping point
Values in a second-price spirit, bidders 100, 80, and 60 for an open English auction. At what price does bidding stop? Write the number.
10. Second-price payment
In a sealed second-price auction with bids 100, 80, and 60, what does the winner pay? Write the number.
11. The cost of shading
In a second-price auction your value is 100 and the second-highest bid is 80. You shade your bid to 75. What happens?
12. The danger of overbidding
Same setting, value 100, second-highest bid 80. What if you bid 105 instead?
13. A reserve price
The seller sets a reserve of 90 in the English auction with bidder values 100, 80, and 60. What revenue results?
14. The winner's take
In the plain English auction with values 100, 80, and 60, what surplus does the winner keep?
15. Revenue with the reserve
With bidder values 100, 80, and 60 and a reserve price of 90, compute the seller's revenue in the English auction, and write the number.
16. Winner's surplus under the reserve
With the reserve of 90 and the top bidder's value of 100, compute the winner's surplus, and write the number.