In this paper the authors Xin Meng and Hikmet Gunay analyze the correct selling order in a second-price sequential auction for two heterogeneous synergistic goods with local and global bidders. They prove that as the number of local bidders in the second auction approaches infinity, the outcome is always efficient. However, as the number of local bidders in the first auction approaches infinity, the outcome is inefficient with a positive probability. By using simulations, they show that selling the good with more finite bidders in the second auction results in a more efficient outcome. If the selling order is incorrect, the probability of an inefficient outcome is around 19%.
Is a Professor at the University of Manitoba, Canada and a Distinguished Professor at Dongbei University of Finance and Economics, China. He specializes in Industrial Organization, Game Theory, and Microeconomics. His research papers have been published in journals such as Journal of Economic Theory, Journal of Corporate Finance, Economic Theory, International Journal of Industrial Organization, and Review of International Economics.
Is a postdoc at the Instituto de Matematica Pura e Aplicada – IMPA – at Rio de Janeiro. He holds a bachelor in economics by the Pontificia universidad católica del Perú – PUCP-(2015) and a Master's degree (2018) and a PhD (2022) in mathematical economics completed at IMPA under the supervision of Aloisio Araujo. He specializes in microeconomic theory and in particular in contract theory. His research has focused on multidimensional screening.
Economista peruana, con amplia experiencia académica y profesional en el Perú y el exterior. Doctora en Economía del Desarrollo, del Medio Ambiente y Agrícola, y una Maestría en Economía, ambos por The Ohio State University. Ella es actualmente Jefa del Departamento de Economía de la Pontificia Universidad Católica del Perú (PUCP), donde también es Profesora e Investigadora. Antes fue Directora Académica de Planeamiento y Evaluación de la PUCP.
Se ha desempeñado en la academia en Estados Unidos, México y España. Sus áreas de expertise y publicaciones incluyen mercados de trabajo, pequeñas y microempresas, microfinanzas, inclusión financiera, migraciones, con perspectiva de género, en Perú y América Latina.
Consultora para varios organismos internacionales (CAF, BID, Banco Mundial, OIT, CEPAL). Participa activamente en asociaciones académicas (AEA, LACEA, UAA, APE). En el ámbito público, ha asumido cargos de responsabilidad profesional en la administración pública peruana.
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