Lei Wang

Work place: Institute of System Engineering, University of Wuhan, Wuhan, Hubei Province, China

E-mail: winrayo@sina.com


Research Interests:


Author Articles
Comparative Analysis for the Equilibrium Bidding Strategies of the Standard Auction Based on the Revenue Equivalence Principle

By Lei Wang

DOI: https://doi.org/10.5815/ijem.2012.04.09, Pub. Date: 29 Aug. 2012

It has analyzed the transition processes for the content of the revenue equivalence principle. It used the revenue equivalence principle to derive the equilibrium bidding strategies in the first, second and third price auction and the all-pay auction from the expected payment of the bidders. Based on this, it compared the equilibrium bidding strategies in the four auction forms and got some useful conclusions.

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