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Discussion Papers, Kellogg School of Management, Northwestern University >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/59657
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | De Castro, Luciano I. | | en_US |
| dc.date.accessioned | | 2011-08-04 | | en_US |
| dc.date.accessioned | | 2012-07-12T12:33:58Z | | - |
| dc.date.available | | 2012-07-12T12:33:58Z | | - |
| dc.date.issued | | 2010 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/59657 | | - |
| dc.description.abstract | | Affiliation 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.language.iso | | eng | | en_US |
| dc.publisher | | Northwestern Univ., Kellogg Graduate School of Management, Center for Mathematical Studies in Economics and Management Science Evanston | | en_US |
| dc.relation.ispartofseries | | Discussion Paper, Center for Mathematical Studies in Economics and Management Science 1530 | | en_US |
| dc.subject.jel | | C62 | | en_US |
| dc.subject.jel | | C72 | | en_US |
| dc.subject.jel | | D44 | | en_US |
| dc.subject.jel | | D82 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | affiliation | | en_US |
| dc.subject.keyword | | positive dependence | | en_US |
| dc.subject.keyword | | statistical dependence of types | | en_US |
| dc.subject.keyword | | conditional independence | | en_US |
| dc.subject.keyword | | de Finetti's theorem | | en_US |
| dc.subject.keyword | | minimally informative random variable | | en_US |
| dc.subject.keyword | | auctions | | en_US |
| dc.subject.keyword | | pure strategy equilibrium | | en_US |
| dc.subject.keyword | | revenue ranking | | en_US |
| dc.title | | Affiliation, equilibrium existence and revenue ranking of auctions | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 665455356 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | Discussion Papers, Kellogg School of Management, Northwestern University
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