A BEJTE Contributions article.

Abstract

Auctions are considered with a (non-symmetric) independent-private-value model of valuations. It shall be demonstrated that a utility equivalence principle holds for an agent if and only if she has constant absolute risk aversion.

Submitted: November 21, 2004 · Accepted: December 14, 2004 · Published: February 11, 2005

Originally published in Contributions to Theoretical Economics.

Recommended Citation

Hon-Snir, Shlomit (2005) "Utility Equivalence in Auctions," Contributions to Theoretical Economics: Vol. 5 : Iss. 1, Article 1.
Available at: http://www.bepress.com/bejte/contributions/vol5/iss1/art1