The Herodotus paradox

Casper de Vries; MR (Michael) Baye; DJ (Dan) Kovenock

doi:10.1016/j.geb.2011.07.004

The Herodotus paradox

Casper de Vries, MR (Michael) Baye, DJ (Dan) Kovenock

Research output: Contribution to journal › Article › Academic › peer-review

10 Citations (Scopus)

Abstract

The Babylonian bridal auction, described by Herodotus, is regarded as one of the earliest uses of an auction in history. Yet, to our knowledge, the literature lacks a formal equilibrium analysis of this auction. We provide such an analysis for the two-player case with complete and incomplete information, and in so doing identify what we call the “Herodotus paradox.”

Original language	English
Pages (from-to)	399-406
Number of pages	8
Journal	Games and Economic Behavior
Volume	74
Issue number	1
DOIs	https://doi.org/10.1016/j.geb.2011.07.004
Publication status	Published - 2012

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ESE - F&A

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10.1016/j.geb.2011.07.004

http://hdl.handle.net/1765/32015

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abstract = "The Babylonian bridal auction, described by Herodotus, is regarded as one of the earliest uses of an auction in history. Yet, to our knowledge, the literature lacks a formal equilibrium analysis of this auction. We provide such an analysis for the two-player case with complete and incomplete information, and in so doing identify what we call the “Herodotus paradox.”",

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AB - The Babylonian bridal auction, described by Herodotus, is regarded as one of the earliest uses of an auction in history. Yet, to our knowledge, the literature lacks a formal equilibrium analysis of this auction. We provide such an analysis for the two-player case with complete and incomplete information, and in so doing identify what we call the “Herodotus paradox.”

U2 - 10.1016/j.geb.2011.07.004

DO - 10.1016/j.geb.2011.07.004

M3 - Article

SN - 0899-8256

VL - 74

SP - 399

EP - 406

JO - Games and Economic Behavior

JF - Games and Economic Behavior

IS - 1

ER -

The Herodotus paradox

Abstract

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