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Please use this identifier to cite or link to this item: http://acervodigital.unesp.br/handle/unesp/369740
Title: 
Asymmetric information: auctions and the winner's curse [Game theory]
Author(s): 
Polak, Ben
Language: 
eng
Description: 
  • Educação Superior::Ciências Sociais Aplicadas::Economia
  • Educação Superior::Engenharias::Engenharia de Produção
  • Presents part of course, Game theory , when Professor Polak discusses auctions. Makes a first distinguish two extremes: common values and private values. We hold a common value auction in class and discover the winner's curse, the winner tends to overpay. Discusses the four forms of auction: first-price sealed-bid, second-price sealed-bid, open ascending, and open descending auctions. Shows bidding strategies in each auction form for the case when values are private. Explores which auction forms generate higher revenues for the seller, but a proper analysis of this will have to await the next course
Issue Date: 
  • 5-Dec-2007
  • 6-Apr-2010
  • 6-May-2010
  • 6-May-2010
  • 6-May-2010
Publisher: 
Yale University, Open Yale Courses
Keywords: 
  • Educação Superior::Engenharias::Engenharia de Produção::Teoria dos Jogos
  • Educação Superior::Ciências Sociais Aplicadas::Economia::Economia Geral
  • Auction
  • Competitiveness
  • Strategy
Notes: 
To discuss and explain auctions, and its strategies
Credits: 
Duration:1 h, 2 min, 28 s. To hear this resource its necessary the instalation of Quick time. Available at: <http://www.apple.com/pt/quicktime/>
Source: 
http://objetoseducacionais2.mec.gov.br/handle/mec/13878
URI: 
http://acervodigital.unesp.br/handle/unesp/369740
Rights: 
Yale University 2009. Some rights reserved. Unless otherwise indicated in the applicable Credits section of certain lecture pages, all content on this web site is licensed under a Creative Commons License. Please refer to the Credits section to determine whether third-party restrictions on the use of content apply
Type: 
áudio
Appears in Collections:MEC - Objetos Educacionais (BIOE) - OE

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