Mean sample spacings, sample size and variability in an auction-theoretic framework |
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| Authors: | Anand Paul Genaro Gutierrez |
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| Institution: | a Decision and Information Sciences, Warrington College of Business, University of Florida, Gainesville, FL 32611-7150, USA
b McCombs School of Business, University of Texas at Austin, TX 78712, USA |
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| Abstract: | In terms of a standard model for English auctions and sealed-bid auctions, we study the impact of an increase in bidding competition and in variance of the distribution of valuations on the winner's expected rent using tools from order statistics and stochastic ordering. |
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| Keywords: | Auction theory Order statistics Sample spacings Stochastic ordering |
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