OxTalks will soon move to the new Halo platform and will become 'Oxford Events.' There will be a need for an OxTalks freeze. This was previously planned for Friday 14th November – a new date will be shared as soon as it is available (full details will be available on the Staff Gateway).
In the meantime, the OxTalks site will remain active and events will continue to be published.
If staff have any questions about the Oxford Events launch, please contact halo@digital.ox.ac.uk
Please sign up for meetings at the link below:
docs.google.com/spreadsheets/d/1t147hTaa3u0f4TcsAmhz2TXceVzEh6×73LrUVIYxHDM/edit#gid=0
Abstract
We model multi-unit auctions in which bidders’ valuations are multidimensional private information. We show that the last accepted bid uniform-pricing rule admits a unique equilibrium with a simple characterization; in comparison, the commonly-studied first rejected bid uniform-pricing rule admits many equilibria, many of which provide zero expected revenue. In a natural example, equilibrium strategies in the last accepted bid auction are constructed from familiar strategies for single-unit first price auctions. In contrast with the information pooling we prove to arise in the first rejected bid and pay as bid auctions, the unique equilibrium of the last accepted bid auction is fully revealing.
Link to paper:
