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Rejection prices and an auctioneer with non-monotonic utility

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Main Author: Zhonghao, Shui
Format: Book
Language:English
Published: Springer 2023
Subjects:
non-monotonic utility
Rejection prices
Online Access:https://link.springer.com/article/10.1007/s00182-023-00845-4
https://dlib.phenikaa-uni.edu.vn/handle/PNK/7730
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spelling oai:localhost:PNK-77302023-04-11T01:35:47Z Rejection prices and an auctioneer with non-monotonic utility Zhonghao, Shui non-monotonic utility Rejection prices CC BY This paper considers an auctioneer who has a non-monotonic utility function with a unique maximizer. The auctioneer is able to reject all bids over some amount by using rejection prices. We show that the optimal rejection price for such an auctioneer is lower than and equal to that maximizer in first-price and second-price sealed-bid auctions, respectively. Further, in each auction we characterize a necessary and sufficient condition that by using the optimal rejection price not only the auctioneer but also bidders can be better off, compared to a standard auction. 2023-04-11T01:35:47Z 2023-04-11T01:35:47Z 2023 Book https://link.springer.com/article/10.1007/s00182-023-00845-4 https://dlib.phenikaa-uni.edu.vn/handle/PNK/7730 en application/pdf Springer
institution Digital Phenikaa
collection Digital Phenikaa
language English
topic non-monotonic utility
Rejection prices
spellingShingle non-monotonic utility
Rejection prices
Zhonghao, Shui
Rejection prices and an auctioneer with non-monotonic utility
description CC BY
format Book
author Zhonghao, Shui
author_facet Zhonghao, Shui
author_sort Zhonghao, Shui
title Rejection prices and an auctioneer with non-monotonic utility
title_short Rejection prices and an auctioneer with non-monotonic utility
title_full Rejection prices and an auctioneer with non-monotonic utility
title_fullStr Rejection prices and an auctioneer with non-monotonic utility
title_full_unstemmed Rejection prices and an auctioneer with non-monotonic utility
title_sort rejection prices and an auctioneer with non-monotonic utility
publisher Springer
publishDate 2023
url https://link.springer.com/article/10.1007/s00182-023-00845-4
https://dlib.phenikaa-uni.edu.vn/handle/PNK/7730
_version_ 1762909081603932160
score 8.891145

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