Comprehension questions for Ascending Proxy Auctions
Please answer these questions concisely (1-2 sentences each).
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In the TU case, when auction terminates, how do we determine th bidders' payments? *
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Given an example where an auctioneer might want to use the APA when contracts do not contain payments. *
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How useful is the theorem regarding profit target strategies for bidders in practice? *
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What do we know about a bidder's optimal strategy when goods are substitutes? *
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Which (sub-)section in the readings did you find difficult and/or did you not fully understand and/or would you like see covered in the lecture in detail. Be as specific as you like. *
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