MET Seminar - Alp Atakan (Queen Mary, University of London)
| Dates: | 2 November 2022 |
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| Times: | 17:00 - 18:00 |
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| What is it: | Seminar |
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| Organiser: | School of Social Sciences |
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| Who is it for: | University staff, Current University students |
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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
