A note on the wallet game with discrete bid levels
在钱包博弈中，已知两个竞拍者出价两倍信号是均衡策略；但本文证明，一旦引入离散出价水平，该策略在日本-英式拍卖中不再是均衡，并讨论了这一结果的含义。
It is well-known that in the wallet game with two bidders, bidding twice the (individual) signal is an equilibrium. We prove that this strategy is never an equilibrium in a Japanese–English auction once discrete bid levels are introduced; we also discuss the implications of this result.