New Theoretical Economics Research Reported from Hebrew University
2012 JUL 1 (VerticalNews) -- By a News Reporter-Staff News Editor at Insurance Business Weekly -- New research on Theoretical Economics is the subject of a report. According to news reporting originating in Jerusalem, Israel, by VerticalNews journalists, researchers stated "In 1961, Vickrey posed the problem of finding an analytic solution to a first-price auction with two buyers having valuations uniformly distributed on and."
The news reporters obtained a quote from the research by the authors from Hebrew University, "To date, only special cases of the problem have been solved. In this paper, we solve this general problem and in addition allow for the possibility of a binding minimum bid."
According to the news reporters, the researchers concluded: "Several interesting examples are presented, including a class where the two bid functions are linear."
For more information on this research see: Asymmetric first-price auctions with uniform distributions: analytic solutions to the general case. Economic Theory, 2012;50(2):269-302. Economic Theory can be contacted at: Springer, 233 Spring St, New York, NY 10013, USA. (Springer - www.springer.com; Economic Theory - www.springerlink.com/content/0938-2259/)
Our news correspondents report that additional information may be obtained by contacting T.R. Kaplan, Hebrew University of Jerusalem, Center Study Rat, Jerusalem, Israel.
Keywords for this news article include: Asia, Israel, Jerusalem, Economic Theories, Theoretical Economics
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