| Michael Troege, Northwestern University |
| The Insider's Curse |
| Session: C-3-1 Saturday 12 August 2000 by Troege, Michael |
| The paper shows that in an open, ascending bid, dominance solvable auction with generally distributed, independent private and common value components, information about the quality of the object on sale can reduce the profit of an insider. In particular this will be the case if there are a lot of outsiders, which have identified the insider. |