期刊名称：Discussion Paper Series / Department of Economics, New York University
出版年度：2006
卷号：1
出版社：New York University
摘要：This paper develops a methodology for characterizing expected
revenue from auctions when bidders’ types come from an arbitrary distribution.
In particular, types may be multidimensional, and there may be mass
points in the distribution. One application extends existing revenue equivalence
results. Another application shows that first-price auctions yield higher
expected revenue than second-price auctions when bidders are risk averse and
face financial constraints. This revenue ranking extends to risk-averse bidders
with general forms of non-expected utility preferences.
关键词：Auctions, Multidimensional types and atoms, Risk aversion, Gateaux
differentiable preferences.
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