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MET Seminar - Alp Atakan (Queen Mary, University of London)

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Dates:2 November 2022
Times:17:00 - 18:00
What is it:Seminar
Organiser:School of Social Sciences
Who is it for:University staff, Current University students
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  • In category "Seminar"
  • In group "(SoSS) Economics"
  • In group "(SoSS) Economics - theory"
  • By School of Social Sciences

Title: Information Aggregation in Auctions with Costly Information (with Mehmet Ekmekci)

Abstract: We study a common-value auction in which a large number of identical, indivisible object are sold to a large number of ex-ante identical bidders with unit demand. Bidders are initially uninformed but can acquire information from multiple sources that differ in accuracy and cost. We define a certain cost-accuracy ratio for each available source of information. The minimum value for this cost-accuracy ratio among all information sources determines the information content of the auction's price and information is aggregated if and only if the cost-accuracy ratio is equal to zero. In particular, the cost-accuracy ratio is equal to zero and information is aggregated if the set of experiments is rich, the cost of information is convex and satisfies a certain rho-monotonicity property.

Location: Arthur Lewis Building G.020

Meet the speaker: https://docs.google.com/spreadsheets/d/1K6pJH2D1qKGE_xDVXqfEPDJWDxMKMY-hgs12QB1qHaU/edit?usp=sharing

Full schedule: http://daviddelacretaz.net/seminars/

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Room G.020
Arthur Lewis Building
Manchester

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david.delacretaz@manchester.ac.uk

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