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dc.contributor.authorDe Castro, Luciano I.en_US
dc.date.accessioned2011-08-04en_US
dc.date.accessioned2012-07-12T12:33:58Z-
dc.date.available2012-07-12T12:33:58Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/59657-
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.language.isoengen_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.jelC62en_US
dc.subject.jelC72en_US
dc.subject.jelD44en_US
dc.subject.jelD82en_US
dc.subject.ddc330en_US
dc.subject.keywordaffiliationen_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.keywordauctionsen_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
dc.identifier.ppn665455356en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Discussion Papers, Kellogg School of Management, Northwestern University

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