Alt tag
A lecture in the Economics Speaker Series from the University of Saskatchewan Department of Economics

Different number of bidders in sequential auctions

A talk by Dr. Hikmet Gunay (PhD), University of Manitoba

Event

Date: Wednesday, Sept. 28
Time: 4 pm
Location: Arts Building Room 807, 9 Campus Dr., Saskatoon

Free and open to the public

About this event

A talk by Dr. Hikmet Gunay (PhD), University of Manitoba

We analyze the correct selling order in a second-price sequential auction for two heterogeneous synergistic goods with local and global bidders. We prove that as the number of local bidders in the second auction approaches infinity, the outcome is always efficient. However, as the number of local bidders in the first auction approaches infinity, the outcome is inefficient with a positive probability. By using simulations, we show that selling the good with more finite bidders in the second auction results in a more efficient outcome. If the selling order is incorrect, the probability of an inefficient outcome is around 19%.

Info: economics.dept@usask.ca


Upcoming Events

USask Symphony Orchestra: Notes of Excellence

Dec 6, 2023
A concert of classic works

Fall Chamber Music Concert

Dec 6, 2023
Enjoy beautiful chamber music works performed by students in the USask Chamber Ensemble

What Exactly is the Ethics of Care?

Dec 8, 2023
A Philosophy in the Community talk by Dr. Maggie Fitzgerald (PhD), faculty member in the Department of Political Studies

 

See all events