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The Uniform Price Auction with Endogenous Supply

Damianov, D.S.

Authors



Abstract

This paper shows that low-price equilibria in the uniform price auction with endogenous supply do not exist if the seller employs the proportional rationing rule and is consistent when selecting among profit-maximizing quantities. In a (consistent) subgame perfect equilibrium the Walrasian quantities are traded at the Walrasian price.

Citation

Damianov, D. (2005). The Uniform Price Auction with Endogenous Supply. Economics Letters, 88(2), 152-158. https://doi.org/10.1016/j.econlet.2005.02.004

Journal Article Type Article
Publication Date 2005-08
Deposit Date Aug 27, 2013
Journal Economics Letters
Print ISSN 0165-1765
Publisher Elsevier
Peer Reviewed Peer Reviewed
Volume 88
Issue 2
Pages 152-158
DOI https://doi.org/10.1016/j.econlet.2005.02.004
Keywords Endogenous supply; Proportional rationing; Consistency
Public URL https://durham-repository.worktribe.com/output/1451455