Experimental analysis of the efficiency of uniform-price versus discriminatory auctions in the England and Wales electricity market ☆

作者: John Bower , Derek Bunn

DOI: 10.1016/S0165-1889(00)00036-1

关键词: Spectrum auctionEconomicsMicroeconomicsRevenue equivalenceGeneralized second-price auctionReverse auctionDutch auctionIndustrial organizationProxy bidEauctionAuction theory

摘要: … The discriminatory auction results in higher market prices than the uniform-price auction. This is because market prices are not publicly available and agents with a large market share …

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