Proves existence and uniqueness of BNE in first-price auctions with discrete value distributions and provides a computation algorithm that avoids ODEs.
Counterspeculation, auctions, and competitive sealed tenders.The Journal of finance, 16(1):8–37
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Bayesian Nash Equilibrium in First-Price Auction with Discrete Value Distributions
Proves existence and uniqueness of BNE in first-price auctions with discrete value distributions and provides a computation algorithm that avoids ODEs.