The Insider's Curse Articles uri icon

publication date

  • March 2011

start page

  • 339

end page

  • 350


  • 2


  • 71

International Standard Serial Number (ISSN)

  • 0899-8256

Electronic International Standard Serial Number (EISSN)

  • 1090-2473


  • The paper shows that in an open-ascending bid auction with multi-dimensional uncertainty about private and common value components, private information about the common value has negative value for a bidder if there are sufficiently many bidders. We discuss the role of the visibility of bids and the multi-dimensionality of private information for this result.