A simple approach to analyzing asymmetric first price auctions”, working paper

In this paper, we propose a new approach to analyzing asymmet-ric 6rst price auctions. Speci6cally, we examine winning probabilities, exploiting the connection between winning probabilities and payo8s known from mechanism design. This circumvents the need to look directly at bidding strategies, which are generally complex. We derive new results, and more easily prove almost all existing results. The ap-proach also sheds light on hitherto unexamined types of asymmetry. Speci6cally, we consider auctions with predictable and unpredictable buyers. Moreover, the method also applies to asymmetric all-pay auc-tions, where all buyers pay their own bid, and about which little is currently known