||Sequential Auctions of Heterogeneous Objects
Muramoto, AkitoshiSano, Ryuji
9452016-07 , Institute of Economic Research, Kyoto University
We consider sequential second-price auctions in which heterogeneous objects are sold to bidders with unit demand and a single dimensional type. We show that a symmetric increasing equilibrium exists if objects are ordered in terms of dispersiveness of value distributions. Equilibrium price declines when objects are equivalent on average and additional conditions hold.