Abstract
We show that, in several (but not all) standard auctions, (i) private independent values and (ii) complete information are payoff equivalent. The first-price auction generates the same revenue under (i) and (ii); the all-pay auction has lower revenue under (ii).
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
