The insider's curse
(2010)
Journal Article
Hernando-Veciana, Á., & Tröge, M. (2011). The insider's curse. Games and Economic Behavior, 71(2), 339-350. https://doi.org/10.1016/j.geb.2010.05.007
The paper shows that in an open-ascending bid auction with multi-dimensional uncertainty about private and common value components, private information about the common value has negative value for a bidder if there are sufficiently many bidders. We... Read More about The insider's curse.