EconStor >
Northwestern University >
Kellogg School of Management - Center for Mathematical Studies in Economics and Management Science, Northwestern University  >
Discussion Papers, Kellogg School of Management, Northwestern University >

Please use this identifier to cite or link to this item:

Full metadata record

DC FieldValueLanguage
dc.contributor.authorDe Castro, Luciano I.en_US
dc.description.abstractAffiliation has been a prominent assumption in the study of economic models with statistical dependence. Despite its large number of applications, especially in auction theory, affiliation has limitations that are important to be aware of. This paper shows that affiliation is a restrictive condition and the intuition usually given for its adoption may be misleading. Also, other usual justifications for affiliation are not compelling. Moreover, some implications of affiliation - namely, equilibrium existence in first-price auctions and the revenue dominance of second-price auctions - do not generalize to other definitions of positive dependence.en_US
dc.publisherNorthwestern Univ., Kellogg Graduate School of Management, Center for Mathematical Studies in Economics and Management Science Evanstonen_US
dc.relation.ispartofseriesDiscussion Paper, Center for Mathematical Studies in Economics and Management Science 1530en_US
dc.subject.keywordpositive dependenceen_US
dc.subject.keywordstatistical dependence of typesen_US
dc.subject.keywordconditional independenceen_US
dc.subject.keywordde Finetti's theoremen_US
dc.subject.keywordminimally informative random variableen_US
dc.subject.keywordpure strategy equilibriumen_US
dc.subject.keywordrevenue rankingen_US
dc.titleAffiliation, equilibrium existence and revenue ranking of auctionsen_US
dc.typeWorking Paperen_US
Appears in Collections:Discussion Papers, Kellogg School of Management, Northwestern University

Files in This Item:
File Description SizeFormat
665455356.pdf352.6 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.