• Medientyp: E-Artikel
  • Titel: The asymptotics of price and strategy in the buyer’s bid double auction
  • Beteiligte: Williams, Steven R.; Zachariadis, Konstantinos E.
  • Erschienen: Springer Science and Business Media LLC, 2024
  • Erschienen in: Review of Economic Design, 28 (2024) 1, Seite 151-187
  • Sprache: Englisch
  • DOI: 10.1007/s10058-023-00338-6
  • ISSN: 1434-4742; 1434-4750
  • Schlagwörter: General Economics, Econometrics and Finance
  • Entstehung:
  • Anmerkungen:
  • Beschreibung: <jats:title>Abstract</jats:title><jats:p>In a model with correlated and interdependent values/costs, we identify for the buyer’s bid double auction the asymptotic distributions of the price and of two order statistics in the first order conditions for optimal bidding/asking, all of which are normal. Substitution of the asymptotic distributions into the first order conditions can permit the solution for approximately optimal bids/asks that provide insight into what is “ first order” in a trader’s strategic decision-making, which has been difficult to obtain through analysis of equilibrium.</jats:p>