쳯맺잿ꆢ쇵뒺:쏜럢볛룱엄싴믲헐뇪훐뗄폐쿞뢯냜쏜럢볛룱엄싴믲헐뇪훐뗄폐쿞뢯냜3쳯맺잿ꆡ쇵뒺ꆡꆡ쓚죝쳡튪:놾컄퇐뺿쇋쏜럢볛룱엄싴믲헐춶뇪훐뗄폐쿞뢯냜컊쳢,첽쳖쇋떱탐믟헟춨맽탐믟헐뇪훷돖죋믱뗃뛠듎돶뇪믺믡,뛸웤쯻뺺뇪헟늻횪뗀헢훖폐쿞뢯냜탐캪쪱,뛔엄싴뷡맻쯹닺짺뗄펰쿬ꆣ퓚뗚뛾볛룱엄싴믺훆쿂,평폚뺺뇪헟내헦쪵맀볛놨볛ퟜ쫇죵햼폅닟싔,룃폐쿞뢯냜탐캪퓚듋엄싴믺훆쿂늻믡닺짺펰쿬ꆣ떫뛔폚쏜럢뗄뗚튻볛룱엄싴믺훆살쮵,평폚탐믟헟뗄뛠룶뇪볛훐뗄ퟮ룟뇪볛뇈웤쯻뺺뇪헟뗄뇪볛룼잿쫆(aggressive),떼훂웤쯻뺺뇪헟믱쪤뗄룅싊복짙,탐믟헟믱쪤뗄룅싊퓶볓ꆣ뛸탐믟헟뗄웤쯻돶뇪믺믡쯹폃뗄돶뇪닟싔뇈웤쯻뺺뇪헟뗄돶뇪닟싔튪죵쫆,쯹틔퓚놣횤웚췻쫕틦퓶볓뗄쟩뿶쿂쯹뢶돶뗄웚췻횧뢶폐뿉쓜뇈퓚쎻폐뢯냜쟩탎쿂뗄웚췻횧뢶튪뗍ꆣ쳘뇰뗘,떱탐믟헟믱뗃룼뛠뗄돶뇪믺믡쪱쯹닉폃뗄돶뇪닟싔폫컒쏇뗄횱뻵쫇폐닮틬뗄ꆣ폐쿞뢯냜뛔폚컯욷쯹폐헟살쮵쫇늻샻뗄,쯻뗄웚췻쫕틦쯦ퟅ탐믟헟뗄쳘좨뗄퓶잿뛸복짙ꆣ맘볼듊:쏜럢엄싴ꆡ웚췻쫕틦ꆡ웚췻횧뢶ꆡ폐쿞뢯냜튻ꆢ틽ꆡ퇔엄싴믲헐뇪,ퟷ캪튻훖폐킧엤훃풴뗄믺훆,펦폃풽살풽맣랺,틑뺭짮죫떽컒쏇짺믮뗄랽랽쏦쏦ꆣ퓚쿖쪵훐,탭뛠뻞뛮뗄컯욷믲쿮쒿뚼쫇춨맽엄싴믲헐뇪뗄랽쪽뷸탐뗄ꆣ뇈죧,퓚훐맺,캪쇋럀횹헾뢮맙풱뗄톰ퟢ믲뢯냜,헾뢮쏷좷맦뚨맺볒닆닺뫍닺뗄돶쫛믲붨짨쿮쒿,뚼뇘탫닉폃엄싴믲헐뇪뗄랽쪽뷸탐ꆣ떫퓚탭뛠쟩뿶쿂,컯욷뗄쯹폐헟뛔엄싴놾짭쇋뷢뫜짙,엄싴믮뚯쫇퓚튵훷돖죋듺샭뗄쟩뿶쿂췪돉뗄ꆣ떫퓚샭싛퇐뺿훐,ퟜ쫇볙뚨훷돖죋쫇튻룶솮뷠뗄닙ퟷ헟ꆣ퓚쿖쪵훐췹췹늻쫇죧듋,훷돖죋ꆢ컯욷쯹폐헟ꆢ뺺뇪헟횮볤뗄샻틦쫇돥춻뗄,퓚샻틦뗄쟽쪹쿂훷돖죋믡뫍컯욷쯹폐헟벰뺺뇪헟훐뗄튻랽뷸탐릲쒱,틔듯떽믱좡뛮췢샻틦뗄쒿뗄ꆣ훷돖죋헢킩뎬돶횰퓰랶캧뗄탐캪컒쏇돆횮캪뢯냜탐캪,뢯냜탐캪뗄듦퓚뛔엄싴룷랽뗄탐캪닟싔벰엄싴뷡맻뚼믡닺짺튻뚨뗄펰쿬ꆣ늻춬돌뛈뗄뢯냜뛔엄싴뗄펰쿬떱좻쫇늻튻퇹뗄ꆣ쓇쎴,퓵퇹살뛈솿뢯냜뗄돌뛈쓘?튻훖랽쪽쫇뢳폨탐믟뗄뺺뇪헟튻킩뻸뛔뗄쳘좨(뇈죧죃탐믟뗄뺺뇪헟횪뗀쯹폐웤쯻뺺뇪헟뗄놨볛뫳퓙룸돶ퟔ벺뗄놨볛),좻뫳폃헢훖뢯냜탐캪랢짺뗄룅싊듳킡살뛈솿뢯냜돌뛈뗄잿죵ꆣ쇭튻훖랽쪽뻍쫇횱뷓뢳폨탐믟헟폐쿞뗄쳘좨(뇈죧죃탐믟헟믱뗃춬쪱돶뛠룶뇪뗄믺믡,폃춬쪱돶뇪룶쫽살뛈솿뢯냜뗄돌뛈),폃쳘좨뗄뛠맑믲잿죵살뛈솿뢯냜뗄돌뛈ꆣ쿠뛔폚뗚튻훖쟩탎쿂뗄뻸뛔쳘좨뗄듦퓚,컒쏇돆뗚뛾훖쟩뿶쿂뗄뢯냜탐캪캪폐쿞뢯냜탐캪ꆣ쿖폐뗄컄쿗훷튪퇐뺿뗚튻훖뢯냜랽쪽,뗚뛾훖랽쪽튲폐죋쳖싛맽,늻맽쯻쏇쫇냑탐믟헟믱뗃뗄뛠룶돶뇪믺믡뾴돉쫇닎폫죋쫽뗄퓶볓살뒦샭,헢퇹뒦샭쿔좻쫇늻첫ힼ좷ꆣ놾컄룸돶튻훖룼캪잡떱뗄뒦샭랽쪽ꆣ3ꆡ쳯맺잿,짏몣닆뺭듳톧뺭볃톧풺,폊헾뇠싫:200433;쇵뒺,뮪훐뿆벼듳톧뺭볃톧풺,커몺샭릤듳톧,폊헾뇠싫:430063,뗧ퟓ탅쿤:gtian@ꆣ룐킻맺볒ퟔ좻뿆톧믹뷰틔벰뷌폽늿뫍샮볎돏믹뷰믡뗄ꆰ뎤붭톧헟붱샸볆뮮ꆱ뛔놾퇐뺿뿎쳢쳡릩뷰랽쏦뗄횧돖ꆣ룐킻쓤쏻짳룥죋쳡돶뗄붨짨탔틢볻,떱좻컄퓰ퟔ뢺ꆣ룹뻝맺쓚뗄쾰맟,쏜럢뗄튻듎탔놨볛믺믡튻냣돆캪춶뇪뛸늻돆캪엄싴,뺡맜펢컄훐쎻폐쟸럖,킻킻짳룥죋횸돶헢훖닮뇰ꆣ116
2008쓪뗚5웚퓚뫜뛠엄싴믲헐춶뇪믮뚯훐,췹췹탨튪뛔닎폫헟뗄짌튵믺쏜뷸탐놣쏜,틲뛸닉폃엄싴믲헐뇪뗄랽쪽탨튪뺡솿뇜쏢짌튵킹쏜ꆣ쿠뛔폚릫뾪엄싴뗄랽쪽뛸퇔,쏜럢볛룱춶뇪(엄싴)뗄랽쪽뻟폐헢랽쏦뗄폅쫆,틲뛸닉폃쏜럢볛룱춶뇪랽쪽폐쪱쫇뇘튪뗄ꆣ떫평폚닉폃쏜럢볛룱춶뇪랽쪽,탭뛠탅쾢돉캪쮽죋탅쾢,랢짺뢯냜탐캪뗄뿉쓜탔뻍믡듳듳퓶볓,듓뛸뛔쏜럢볛룱춶뇪랽쪽쿂뗄뢯냜탐캪뗄퇐뺿뻍쿔뗃폈웤훘튪쇋ꆣ뷼쓪살뛔엄싴뫍헐춶뇪훐뗄뢯냜컊쳢뗄퇐뺿훰붥뛠쇋웰살,듳뛠쫽뚼쫇뾼싇뢯냜뇈뷏퇏훘뗄쟩뿶ꆣ벴퓚횪뗀웤쯻뺺뇪헟뗄돶뇪뷡맻뫳,탐믟헟닅룸돶ퟔ벺뗄뇪볛틔쒱쟳룼룟뗄믱쪤룅싊ꆣ웤쯻뺺뇪헟늻쓜듓쯹믱뗃뗄탅쾢훐살췆뛏탐믟헟뗄뺺뇪닟싔,횻쓜룹뻝뺺뇪헟쯹릲폐뗄맀볛럖늼살룸돶ퟔ벺뗄뺺뇪닟싔ꆣJones뫍Menezes(1995)쳖싛쇋뺺뇪헟늻맘탄뢯냜쫇럱랢짺뗄쟩뿶,쯹틔뺺뇪헟뗄뺺뇪탐캪늢쎻폐랢짺룄뇤ꆣLengwiler뫍Wolfstetter(2004),Menezes뫍Monteiro(2003)뾼싇쇋훷돖죋뫍믱쪤헟듯돉킭틩,춨맽붵뗍훐뇪볛룱살뮻좡튻뚨뗄믟슸쫕죫(벴쫇쫂뫳뢯냜)ꆣArozamena뫍Weinschelbaum(2005)쳖싛쇋퓚엄싴믮뚯뾪쪼잰탐믟헟뫍엄싴죋듯돉킭틩퓚엄싴랢짺뫳룹뻝웤쯻뺺뇪헟뗄뇪볛퓶볓믲붵뗍돶뇪쮮욽,늢볙뚨뢯냜내튻뚨뗄룅싊랢짺,틽죫쇋쯦믺탔ꆣBurguet뫍Perry(2004)쳖싛쇋솽룶뺺뇪헟뗄쟩뿶,탐믟헟횻퓊탭퓚돵쪼돶뇪쮮욽늻쓜믱쪤쪱퓶볓ퟔ벺뗄돶뇪쮮욽틔믱쪤,퓚돵쪼돶뇪쮮욽믱쪤뗄쟩뿶쿂늻쓜붵뗍돶뇪쮮욽ꆣCompteetal.(2007)뾼싇쇋떱뺺뇪헟횪뗀믱쪤헟뗄뇪볛뫳,붫웤뛔쯹폐뺺뇪헟릫뾪늢퓊탭쯻쏇훘탂놨볛살닎폫뺺헹,튲뻍쫇맘힢뗄쫇뢯냜뺺헹탐캪ꆣ놾컄훐쯹쳖싛뗄컊쳢뫍짏쫶컄쿗훐쯹쳖싛컊쳢뗄튻룶훷튪쟸뇰퓚폚탐믟헟쎻폐믺믡룹뻝웤쯻쯹폐뺺뇪헟뗄돶뇪뷡맻살룄뇤ퟔ벺뗄돶뇪닟싔,횻쓜퓚엄싴랢짺잰좷뚨ퟔ벺뗄돶뇪닟싔ꆣ놾컄쳖싛뗄헢훖폐쿞뢯냜퓚쿖쪵훐뺭뎣돶쿖ꆣ쏜럢헐춶뇪맽돌튻냣럖틔쿂벸룶맽돌뷸탐:컯욷믲쿮쒿펵폐죋랢늼헐뇪릫룦ꆢ춶뇪죋쳡붻뇪쫩ꆢ뾪뇪ꆢ움뇪ꆢ훐뇪ꆢ잩풼뗈,웤훐쳡붻뇪쫩헢튻맽돌퓲뫜죝틗닺짺뢯냜ꆣ뻝뇊헟쇋뷢,퓚맺쓚,뺺뇪헟튻냣믡퓚헽쪽춶뇪잰뛀솢뗘ힼ놸벸럝(솽훁죽럝)뇪쫩,룹뻝쟩뿶쳡붻룸훷돖죋믲헐뇪떥캻,늻춬뗄뇪쫩튲탭쳡릩늻춬뗄쪩릤랽낸,톡폃늻춬뗄닄쇏,룸돶늻춬뗄뇪볛,ힼ놸헢킩뇪쫩튻냣뚼튪뮨럑튻뚨쪱볤,늻첫뿉쓜쯦쪱룄뇤ꆣ탨튪쮵쏷뗄쫇,탐믟헟믟슸뗄뛔쿳뿉쓜쫇헐뇪냬ꆢ놣맜뇪쫩뗄죋풱믲릫횤죋풱(컒쏇뗄훷돖죋쫇맣틥뗄룅쓮)ꆣ죧퓚춶뇪훐뢯냜랢짺,훷돖죋춵뾴웤쯻춶뇪죋뗄뇪쫩뫳,뿉캪탐믟죋뮻뇪쫩믲룦횪웤쯻펦뇪죋뇪쫩쟩뿶,쪹뗃탐믟헟쓜퓚틑훆뚨뗄뇪쫩훐쳡붻ퟮ병뗄튻럝ꆣ쯹틔컞싛쫇닉좡릫뾪뾪뇪믲쏘쏜뾪뇪뗄랽쪽,헢훖폐쿞뢯냜퓚쿖쪵훐뚼쫇듦퓚뗄ꆣ놾컄퓚볛횵탅쾢쫇뛀솢쮽폐뗄뿲볜쿂쳖싛엄싴훐뗄뢯냜컊쳢ꆣ엄싴뗄훷튪뺭볃뮷뺳쳘헷볙뚨캪:(1)떥튻컯욷;(2)쏜럢춶뇪;(3)뛀솢춬럖늼뗄쮽폐볛횵;(4)뺺뇪헟뫍훷돖죋캪럧쿕훐탔ꆣ컒쏇훷튪뾼싇틔쿂뢯냜탐캪쯹닺짺뗄펰쿬:쒳룶뺺뇪헟캪쇋퓶볓ퟔ벺믱쪤뗄룅싊,춨맽뫍훷돖죋쮽쿂듯돉킭틩,룃뺺뇪헟뿉틔춬쪱돶뛠룶뇪볛,폫웤쯻뺺뇪헟뺺헹,폃믱쪤뗄ퟮ킡뇪볛ퟷ캪릫뾪뇪볛ꆣ쯹폐뢯냜쫇퓚뺺뇪잰랢짺뗄,횻쫇돶뇪뫳내쫂잰풼뚨뗄맦퓲살쪵쿖ꆣ탐믟뗄뺺뇪헟쯹믱뗃뗄뷶뷶쫇춬쪱돶뛠룶뇪뗄믺믡,듓뛸컒쏇쯹뾼싇뗄횻쫇폐쿞뢯냜ꆣ헢튻뢯냜탐캪뿉쓜놻웤쯻뺺뇪헟랢쿖ꆣ놾컄횻뾼싇웤쯻뺺뇪헟췪좫늻횪뗀뢯냜듦퓚뗄쟩뿶쿂엄싴믺훆뗄킧싊쯰쪧컊쳢,웤쯻쟩뿶퓚쇭컄훐쳖싛ꆣ컒쏇뗄퇐뺿랢쿖,퓚웤쯻뺺뇪헟늻횪뗀폐쿞뢯냜듦퓚뗄쟩뿶쿂,쯻쏇뗄돶뇪닟싔붫놣돖늻뇤ꆣ틲쫜믟헟폐뛠듎돶뇪믺믡,웤쯻뺺뇪헟믱쪤뗄룅싊복짙,춬쪱쯻쏇뗄웚췻쫕틦뫍웚췻횧뢶뚼믡쯦횮복짙ꆣ뛸뛔탐믟헟,쯻쏇뗄웚췻쫕틦퓶볓,웚췻횧뢶복짙ꆣ퓚탐믟헟믱뗃춬쪱돶뇪룶쫽뫜짙뗄쟩뿶쿂,컯훷웚췻쫕틦뗄뇤뚯늻쓜좷뚨,퓚쒳킩뺭볃뮷뺳쿂믡복짙,떫퓚쇭췢뗄뺭볃뮷뺳쿂좴믡퓶볓ꆣ떫쯦ퟅ탐믟헟믱뗃춬쪱돶뇪룶쫽ퟣ릻뛠쪱,웤쯻뺺뇪헟뗄웚췻쫕틦뫍웚췻횧뢶늻랢짺룄뇤,컯훷뗄117
쳯맺잿ꆢ쇵뒺:쏜럢볛룱엄싴믲헐뇪훐뗄폐쿞뢯냜웚췻쫕틦퓚복짙ꆣ탨튪횸돶뗄쫇,컒쏇쯹쳖싛뗄쟩뿶뫍뻟폐놣쇴볛뗄쟩뿶쫇폐놾훊쟸뇰뗄ꆣ퓚놣쇴볛뗄쒣탍훐,놣쇴볛뛔뺺뇪헟돶뇪닟싔뗄펰쿬쫇췢짺뗄,쯼평훷돖죋짨뚨,뛔췢릫늼믲늻릫늼,뺺뇪헟뗄맀볛럖늼뛔쎿튻룶뺺뇪헟뛸퇔뚼쫇튻퇹뗄,쎻폐쯦ퟅ놣쇴볛뗄짨뚨뛸랢짺뇤뮯ꆣ퓚컒쏇쯹뾼싇뗄엄싴훐쟩뿶랢짺쇋놾훊뗄뇤뮯,훷돖죋쎻폐짨뚨췢짺뗄놣쇴볛,뛸쫇탐믟헟뗄탐캪룄뇤쇋엄싴뗄뷡맻ꆣ헢퇹쯆뫵쳡룟쇋뺺헹뗄벤쇒돌뛈ꆣ놾컄횻쫇뾼싇떥튻짌욷엄싴,퓚뛠훖짌욷엄싴훐뢯냜튲쫇룶뫜퇏훘뗄컊쳢ꆣ쳘뇰쫇닉릺엄싴훐,돽쇋볛룱틔췢,튪닉릺뗄컯욷뗄훊솿뇪ힼ캬뛈튲펰쿬닉릺헟뗄뢣샻ꆣ닉릺헟냑훊솿본뚨뗄컊쳢듺샭룸훊솿본뚨듺샭짌(믲훊솿본뚨늿쏅),듓뛸뻍폐뿉쓜닺짺뢯냜ꆣCelentani뫍Ganuza(2002),Burguet뫍Che(2004)쳖싛쇋퓚닉릺뮷뺳쿂늻춬탎쪽뗄뢯냜쯹닺짺뗄펰쿬ꆣ컒쏇뗄럖컶튲뫍엄싴훐맘폚럶돖(favoritism)뗄컄쿗쿠맘,퓚헢킩컄쿗훐,튻킩뺺뇪헟평폚쒳훖풭틲뛸늻쫇틲뢯냜쫜떽럶돖ꆣ뇈죧,퓚닉릺맽돌훐,맺쓚믲뗘랽웳튵퓚쏦뛔췢맺뺺헹헟뗄쪱뫲뿉쓜믡룸폨쳘쫢뗄뛔듽ꆣLaffont뫍Tirole(1991),Vagstad(1995)퇐뺿쇋뛠캬탅쾢엄싴(뻶뚨뷡맻뗄늻뷶뷶쫇볛룱,뮹폐뫜뛠웤쯻뗄탅쾢)뗄쟩탎,떱뺺뇪헟움볛닺욷훊솿쪱믡랢짺럶돖뗄쟩뿶ꆣMcAfee뫍McMillan(1998),Branco(1994),Naegelen뫍Mougeot(1998)쳖싛쇋떥튻탅쾢엄싴(벴쫇뷶평볛룱살뻶뚨)뗄쟩뿶,퓚듋볛룱뗄욫뫃뿉쓜믡놻샻폃ꆣ떱쒳캻뺺뇪헟뿉틔춬쪱돶뛠룶뇪쫇릫릲탅쾢쪱,럶돖뿉틔뾴ퟷ컒쏇폃틔퇐뺿랽램뗄튻훖쳘쫢탎쪽ꆣ놾컄뗚뛾늿럖릹붨쒣탍,룸돶폐쿞뢯냜듦퓚뫍늻듦퓚쟩탎쿂뗄뺺뇪헟뗄돶뇪뻹뫢닟싔ꆣ뗚죽늿럖쳖싛폐쿞뢯냜뛔컯욷엤훃뗄폐킧탔뫍웚췻쫕틦뗄펰쿬ꆣ뗚쯄늿럖쳖싛퓚뢯냜돌뛈훰붥퓶잿뗄쟩뿶쿂뺺뇪헟뗄돶뇪닟싔벰룷랽뗄샻틦믡랢짺퓵퇹뗄뇤뮯ꆣ뗚컥늿럖쫇뷡싛ꆣ뛾ꆢ쒣ꆡ탍폫컄쿗훐뗄쳖싛튻퇹,놾컄횻뾼싇컯욷뗄엄싴,쿮쒿헐뇪뗄쳖싛췪좫샠쯆ꆣ볙뚨폐튻룶늻뿉럖룮뗄컯욷탨튪엄싴ꆣ쯹폐헟춨맽듺샭죋ퟩ횯뗄엄싴랽쪽돶쫛룃컯욷ꆣ컒쏇쯹뾼싇뗄뺭볃뮷뺳쫇뛔돆뗄뛀솢쮽폐볛횵쟩뿶,웤뺭볃뮷뺳쳘헷쏨쫶죧쿂:(1)N:닎볓엄싴뗄뺺뇪헟뗄죋쫽;(2)v(ii=1,2,ꆭꆭ,N):쎿룶뺺뇪헟뛔룃컯욷뗄맀볛;(3)ꛂ(ꆤ),<(ꆤ):럖뇰캪뺺뇪헟뗄뺺볛몯쫽뫍웤쓦몯쫽;(4)F(v),f(v):쯹폐뺺뇪헟뗄릲춬뗄맀볛럖늼몯쫽뫍쏜뛈몯쫽;(5)[0,ꮀv]:쯹폐뺺뇪헟뗄릲춬뗄맀볛럖늼쟸볤ꆣ볙뚨뺺뇪헟뗄맀볛쫇쿠뮥뛀솢뗄,쯹폐뗄뺺뇪헟ꆢ훷돖죋뫍컯욷쯹폐헟뚼쫇럧쿕훐탔ꆣ쯹쳖싛뗄엄싴믺훆쫇쏜럢엄싴,쟒엄싴훐늻짨놣쇴볛ꆣ평폚훷돖죋뫍컯욷쯹폐헟늻쫇춬튻룶죋,헢룸뢯냜믲톰ퟢ쳡릩쇋뿕볤ꆣ엄싴죋뿉쓜믡춨맽튻뚨뗄랽쪽횧돖쒳룶믲쒳킩뺺뇪헟틔믱좡튻뚨뗄뛮췢쫕틦ꆣ놾컄쳖싛폐쿞뢯냜탐캪쯹닺짺뗄펰쿬,컒쏇훷튪뾼싇튻훖쳘쫢쟩뿶,볙뚨웤쯻뺺뇪헟뚼늻횪뗀뢯냜믡랢짺,엄싴랢짺잰훷돖죋뫍탐믟뗄쒳룶뺺뇪헟듯돉킭틩:탐믟헟퓚돶뇪췪뇏뫳,훷돖죋룹뻝탐믟헟쯹돶뗄벸룶뇪볛훐쓜믱쪤뗄ퟮ뗍뗄뇪볛살뛔췢릫늼,죧맻뚼늻쓜믱쪤퓲릫늼ퟮ룟뗄뇪볛(떱좻평폚늻쓜훐뇪,쓄튻룶뚼늻펰쿬엤훃뷡맻)ꆣ틲캪훷돖죋쫇내헕듓뗍떽룟뗄쮳탲살좷뚨탐믟헟믱쪤뗄놨볛,떫폖쎻폐뗝퓶볛룱엄싴훐쯹폐뺺뇪헟뚼룹뻝웤쯻뺺뇪헟뗄뇪볛살뗷헻ퟔ벺뗄뇪볛뗄맽돌ꆣ쯹틔컒쏇돆횮캪탩쓢뗄뗝퓶볛룱엄싴ꆣ쿂쏦컒쏇럖컶쎿룶뺺뇪헟쯹닉폃뗄뺺볛뻹뫢닟싔ꆣ평폚웤쯻뺺뇪헟뚼늻횪뗀폐쿞뢯냜탐캪뗄듦퓚,쯻쏇뚼늻믡룄뇤ퟔ벺뗄뺺뇪닟싔,뛸탐믟뗄뺺뇪헟뿉틔룹뻝웤쯻뺺뇪헟볈뚨뗄닟싔살룸돶ퟔ118
2008쓪뗚5웚벺뗄ퟮ폅닟싔ꆣ1.뗚뛾볛룱엄싴퓚뗚뛾볛룱엄싴믺훆쿂,퓚쎻폐뢯냜뗄쟩뿶쿂쎿룶뺺뇪헟틔ퟔ벺뗄헦쪵맀볛살돶뇪뗄뻹뫢닟싔쫇죵햼폅뗄ꆣ평폚퓚뗚뛾볛룱엄싴믺훆쿂쯹떼훂뗄뻹뫢쫇햼폅뻹뫢,벴쪹퓚뢯냜듦퓚뗄쟩뿶쿂,뛔폚웤쯻뺺뇪헟뛸퇔쯻쏇뗄돶뇪닟싔죔놣돖늻뇤ꆣ뛔폚탐믟헟뛸퇔쯻뗄뺺뇪닟싔튲ퟮ뛠쫇내ퟔ벺뗄헦쪵맀볛살돶뇪ꆣ쯹틔엄싴뗄뷡맻붫늻믡룄뇤,튲벴컒쏇쯹뾼싇뗄뢯냜탎쪽뛔뗚뛾볛룱엄싴뗄뷡맻늻믡닺짺펰쿬ꆣ떱뢯냜릲쒱퓚뛠룶뺺뇪헟뫍훷돖죋횮볤랢짺쪱,룃뷡싛붫믡룄뇤,LengwilerandWolfstetter(2004)퇐뺿쇋룃훖쟩뿶ꆣ2.뗚튻볛룱엄싴퓚뗚튻볛룱엄싴믺훆쿂,뢯냜믡닺짺쿔훸뗄펰쿬ꆣ캪쇋럖컶뗄랽뇣,볙뚨뗚튻룶뺺뇪헟캪탐믟헟,쿈볙뚨탐믟헟횻쓜돶솽룶늻춬뗄뇪:볇캪bl뫍bhꆣ캪쇋뇭쫶랽뇣,컒쏇룸돶틔쿂럻뫅볙뚨:(1)Vj캪뗚j룶뺺뇪헟뗄맀볛쯦믺뇤솿,j=1,2,ꆭꆭ,N;(N-1)(2)Y1=Y1캪N-1룶뺺뇪헟뗄맀볛쯦믺뇤솿뗄ퟮ듳듎탲춳볆솿;(3)G(ꆤ)뫍g(ꆤ)럖뇰캪Y1뗄럖늼몯쫽뫍쏜뛈몯쫽;(4)ꛂ(ꆤ),<(ꆤ)뫍b럖뇰캪웤쯻뺺뇪헟뗝퓶뗄뺺뇪몯쫽(biddingfunction)ꆢ뺺뇪몯쫽뗄랴몯쫽(reversebiddingfunction)뫍뇪볛;(5)ꛂ(lꆤ),<(lꆤ),bl,ꛂh(ꆤ),<h(ꆤ)뫍bh럖뇰뇭쪾탐믟헟뗄ퟮ뗍뺺볛몯쫽ꆢퟮ뗍뺺볛몯쫽뗄랴몯쫽ꆢퟮ뗍뇪볛ꆢퟮ룟뺺볛몯쫽ꆢퟮ룟뺺볛몯쫽뗄랴몯쫽벰ퟮ룟뇪볛ꆣ(6)EU0,Em0;EU,Em;EUc,Emc;Eꚰ0,Eꚰ럖뇰뇭쪾쎻폐뢯냜쪱,쯹폐뺺뇪헟뗄웚췻쫕틦뫍웚췻횧뢶;뢯냜랢짺쪱,웤쯻뺺뇪헟뗄웚췻쫕틦뫍웚췻횧뢶;뢯냜랢짺쪱,탐믟헟뗄웚췻쫕틦뫍웚췻횧뢶;쎻폐뢯냜쪱컯훷뗄웚췻쫕틦,뢯냜랢짺쪱컯훷뗄웚췻쫕틦ꆣ퓚웤쯻뺺뇪헟늻횪뗀뢯냜뗄듦퓚뗄쟩뿶쿂,웤쯻뺺뇪헟뗄뺺뇪닟싔뫍쎻폐뢯냜쟩탎쿂뗄췪좫튻퇹,쎿룶웤쯻뺺뇪헟뗄ퟮ듳뮯컊쳢쫇:max:(v-b)G(<(b)).튻뷗쳵볾캪:F(<(b))(v-b)=(1)(N-1)f(<(b))<ꇤ(b)퓚뻹뫢쪱:v=<(b),춨맽볆쯣컒쏇뗃떽:ꛂ(v)=v-ꇒvG(x)dx,(2)0G(v)웤훐GN-1(x)=(F(x)).평폚탐믟헟뇪볛뗄ퟮ룟횵늻믡뎬맽웤쯻뺺뇪헟뇪볛뗄ퟮ룟횵,벴ꛂh(v)ꇜꛂ(ꮀv),vꇊ[0,ꮀv],평뺺볛몯쫽뗄떥뗷탔횪듦퓚3vꇊ(0,ꮀv)쪹ꛂ3h(v)<ꛂ(ꮀv),Πvꇊ3[0,v);ꛂh(v)=ꛂ(ꮀv),Πvꇊ[v,ꮀv]ꆣ퓲탐믟헟뗄ퟮ듳뮯컊쳢죧쿂ꋙ:떱vꇊ3[0,v]쪱캪:max:(v1-b))lG(<(b))l+(v1-bh)[G(<(bh))-G(<(b)l]떱vꇊ3(v,ꮀv)쪱캪:max:(v1-b)lG(<(b))l+(v1-bh)[1-G(<(b))l]ꋙ헢퇹뇭쫶뺭볃틢틥뇈뷏횱맛,떫뇭듯뫍췆떼뷏캪뢴퓓,맊뛸퓚뫳컄훐컒쏇폃웤뗈볛탎쪽붫웤뫏뛾캪튻뷸탐뇭쫶ꆣ119
쳯맺잿ꆢ쇵뒺:쏜럢볛룱엄싴믲헐뇪훐뗄폐쿞뢯냜웤훐<(ꆤ)캪웤쯻뺺뇪헟뗄뺺뇪몯쫽뗄랴몯쫽(내틑횪쳵볾뛔듽);쟒blꇜbh.튻뷗쳵볾캪:뛔bl폐F(<(b))l(bh-b)(l=3)(N-1)f(<(b))l<ꇤ(b)l뛔bh폐f(<N-1(bh))<ꇤ(bh)F(<(b))l(v-b)(N-1)+=31vꇊ[0,v]F(<(bh))F(<(bh))(4)30,vꇊ(v,ꮀv]웤훐3v쫇랽돌<(bh(v))=ꮀv뗄뷢ꆣ퓚뻹뫢쪱,컒쏇폐v1=<h(bh)ꆡ죴ꆡvꇊ3[0,v].뇈뷏(1)뫍(4),컒쏇랢쿖:<h(b)ꇜ<(b),뷸뛸:ꛂ(v)ꇜꛂh(v)ꆣ쏼쳢1ꆡ떱웤쯻뺺뇪헟늻횪뗀폐쿞뢯냜듦퓚뗄쟩뿶쿂,탐믟헟뗄돶뇪닟싔평(6)뫍(7)룸돶,웤쯻뺺뇪헟뗄돶뇪닟싔늻뇤평(2)룸돶;쟒폐죧쿂맘쾵돉솢:ꛂ(lv)ꇜꛂ(v)ꇜꛂh(v)(5)ꛂG(x)(lv)=bh-ꇒbh0Gdx(6)(bh)FN-1(bh)ꛂv-1-F(<N-1(bh))h(v)=ꇒ<(b)hG(x)3dxvꇊ[0,v]0G(<(bh))(7)ꛂ3h(v)vꇊ3(v,ꮀv]횤쏷.평(1),(2),(3),(4)뺭맽볆쯣뫜죝틗퇩횤ꛂ(lꆤ)벰ꛂh(ꆤ3)퓚쟸볤[0,v]뗄늿럖럖뇰평(6)쪽뫍(7)쪽좷뚨,뛔폚ꛂh(ꆤ)퓚쟸볤3(v,ꮀv)뗄늿럖평(4)쿔좻돉솢ꆣ늻뗈쪽맘쾵훐횻탨횤쏷ꛂ(lv)ꇜꛂ(v)벴뿉ꆣ컒쏇폃랴횤램,죴늻뗈쪽ꛂ(lv)>ꛂ(v)돉솢,뛔늻뗈쪽솽뇟내웤쯻죋뗄닟싔좡쓦몯쫽뗃:v=<(ꛂ(v))<<(ꛂ(lv))=ꛂh(v)폫ꛂh(v)ꇜv쎬뛜,맊쏼쳢돉솢ꆣ뷸튻늽뛸퇔,떱ꛂ(lv)>0쪱늻뗈뫅퇏룱돉솢ꆣ벴횤쏼쳢1돉솢ꆣ죽ꆢ폐킧탔뫍쫕틦뗄뇈뷏쿂쏦컒쏇쳖싛폐쿞뢯냜뗄듦퓚뛔컯욷엤훃킧싊벰뺺뇪헟(탐믟헟뫍웤쯻뺺뇪헟)뗄웚췻쫕틦뫍컯욷쯹폐헟뗄웚췻쫕틦닺짺뗄펰쿬ꆣ쫗쿈,컒쏇쳖싛평폚뢯냜뗄듦퓚믡뛔엤훃킧싊닺짺퓵퇹뗄펰쿬ꆣ뛔폚뗚뛾볛룱엄싴뛸퇔,평폚뢯냜늻펰쿬죎뫎뺺뇪헟뗄돶뇪닟싔,쯹틔늻믡펰쿬엤훃뗄킧싊ꆣ떫뛔뗚튻볛룱엄싴좴믡랢짺펰쿬,평폚탐믟헟뗄ퟮ룟뺺볛튪듳폚웤쯻뺺뇪헟뗄뺺볛,튲벴탐믟헟뗄ퟮ룟돶뇪닟싔뇈웤쯻뺺뇪헟뗄돶뇪닟싔룼잿쫆(aggressive),쯹틔믡돶쿖죧쿂쟩뿶:떱탐믟헟뗄맀볛늻쫇ퟮ룟뗄쪱뫲,횻튪쯻뗄ퟮ룟뇪볛뇈웤쯻뺺뇪헟뗄룟뻍쓜펮뗃컯욷,듋쪱믺훆엤훃컯욷뗄폐킧탔뻍믡붵뗍(쪾틢춼죧쿂)ꆣ쿖퓚컒쏇쳖싛폐쿞뢯냜뛔컯욷쯹폐헟뗄웚췻쫕틦ꆢ탐믟헟뗄웚췻쫕틦뫍웤쯻뺺뇪헟뗄웚췻쫕틦믡닺짺퓵퇹뗄펰쿬ꆣ컒쏇쿈쳖싛웤쯻뺺뇪헟뗄웚췻쫕틦뫍웚췻횧뢶믡랢짺퓵퇹뗄뇤뮯ꆣ평폚웤120
2008쓪뗚5웚쯻뺺뇪헟튪쏦뛔폐솽듎돶뇪믺믡뗄탐믟헟쪱,쯻쏇뗄뇪볛뇘탫듳폚탐믟헟뗄ퟮ룟뇪볛뫍웤쯻럇탐믟헟뗄ퟮ룟뇪볛쪱닅쓜펮뗃컯욷,쯹틔듋쪱쯻쏇펮뗃컯욷뗄룅싊캪p=FN-2(<(b))F(<h(b)),쓇쎴쯻쏇뗄웚췻쫕틦캪:EU=ꇒꮀvN-2(v-b)F(<(b))F(<h(b))f(v)dv.(8)0쯻쏇뗄웚췻횧뢶캪:Em=ꇒꮀvN-2b(v)F(<(b))F(<h(b))f(v)dv.(9)0퓚쎻폐뢯냜뗄쟩뿶쿂,쎿룶뺺뇪헟뗄웚췻쫕틦EU0뫍웚췻횧뢶Em0럖뇰캪EU0=ꇒꮀvN-1(v-b)F(<(b))f(v)dv0=ꇒꮀ(10)vG(s)dsf(v)dv0ꇒv0뫍Em0=ꇒꮀvbF(<N-1(b))f(v)dv0(11)=ꇒꮀvvG(v)-ꇒvG(s)dsf(v)컒쏇폚쫇폐틔쿂쏼쳢:쏼쳢2ꆡ떱폐쿞뢯냜듦퓚뗄쪱뫲,웤쯻뺺뇪헟늻횪뗀뢯냜듦퓚뗄쟩뿶쿂,웤쯻뺺뇪헟뗄웚췻쫕틦뫍웚췻횧뢶쯦ퟅ믱쪤룅싊뗄붵뗍튻웰복짙ꆣ횤쏷:퓚쎻폐뢯냜듦퓚뗄쟩뿶쿂,웤쯻뺺뇪헟믱쪤뗄룅싊캪3:p=F(<N-1(b)),틲캪<(b)><h(b),쯹틔3p>pꆣ뇈뷏(8)뫍(10)벰(9)뫍(11),쿔좻폐EU<EU0뫍Em<Em0,튲벴쫇웤쯻뺺뇪헟뗄웚췻쫕틦뫍웚췻횧뢶뚼복짙쇋ꆣ쓇쎴뛔폚탐믟헟뛸퇔,쯻뗄웚췻쫕틦뫍웚췻횧뢶믡랢짺퓵퇹뗄뇤뮯쓘?쯻믱쪤뗄룅싊퓶볓쇋ꆣ틲캪횻튪쯻뗄ퟮ룟뇪볛룟폚웤쯻뺺뇪헟뗄ퟮ룟뇪볛뻍뿉펮뗃컯욷,쇭췢퓚펮뗃컯욷뗄잰쳡쿂,뿉틔춨맽뇈뷏웤쯻뺺뇪헟뗄ퟮ룟뇪볛뫍ퟔ벺뗄솽룶뇪볛뗄듳킡폃ퟮ킡뗄쓜믱쪤뗄쓇룶뇪볛살횧뢶,헢퇹탐믟헟뗄웚췻횧뢶폖늻믡쿱믱쪤룅싊뗄뇤뮯쓇쎴듳ꆣ탐믟헟뗄웚췻쫕틦캪:EUc=ꇒꮀv{(v1-bh)F(mN-1in{<(bh),ꮀv})+N-1(bh-b1)F(<(b))l}f(v1)dv10ꇒ3vFN-1(bh)1-0F(<N-1(bh))ꇒ<(b)hG(s)ds+ꇒbhG(s)dsf(v1)dv100ꆡ+ꇒꮀv33333N-1{(v)F(bh(v))}f(v31-bh(v))+(bh(v)-b()lv)F(bh(v)1)dv1v(12)탐믟헟뗄웚췻횧뢶캪:Emc=ꇒ3vN-1vF(<(bh))f(v)dv+0ꇒꮀvvf(v)dv-EU1(13)3v평쫕틦뗈볛뚨샭횪:뗚튻볛룱엄싴맽돌훐폐풤짨놣쇴볛r쪱,퓚쎻폐죎뫎뢯냜탐캪듦퓚뗄쟩뿶쿂뺺뇪헟뗄뛔돆뗄뺺볛몯쫽캪:ꛂ(x)r(v)=E[max{Y(1),r}|Y(1)<v]=v-ꇒvGrGdx.(14)(v)121
쳯맺잿ꆢ쇵뒺:쏜럢볛룱엄싴믲헐뇪훐뗄폐쿞뢯냜ꆡꆡ쏼쳢3ꆡ떱폐쿞뢯냜듦퓚,뛸웤쯻뺺뇪헟늻횪뗀룃뢯냜듦퓚뗄쟩뿶쿂,탐믟헟뗄웚췻쫕틦믡쯦ퟅ믱쪤룅싊뗄퓶볓뛸퓶볓ꆣ떫쫇,웚췻횧뢶뻍늻튻뚨튲쯦ퟅ믱쪤룅싊뗄퓶볓뛸퓶볓ꆣ횤쏷:탐믟헟믱쪤뗄룅싊캪F(min{<(bh),ꮀN-1v})ꆣ평폚<N-1(bh(v))>v,쯹틔F(<(bh))>F(<N-1(b))=FN-1(v),벴탐믟헟믱쪤뗄룅싊퓶볓쇋ꆣ쿂쏦컒쏇횤쏷탐믟헟뗄쫕틦튲퓶볓쇋ꆣ볇ꛂ3h(v)캪퓚컞죎뫎뢯냜듦퓚뗄쟩뿶쿂놣쇴볛캪bh쪱뺺뇪헟뗄뺺볛몯쫽ꆣ평(14)컒쏇폐:ꛂ3G(x)h(v)=v-ꇒvdx(15)bG(v)h쿔좻폐ꛂ3h(v)>ꛂh(v)ꆣ춬쪱컒쏇폐:ꇒvG(x)dx=(v-ꛂ3h(v))G(v)(16)bh평폚vꇊ3[0,v]쪱폐:Uc-UN-10={(v-bh)F(<(bh))+(bh-b)lF(<N-1N-1(b))l}-(v-b)F(<(b))=N-1(v-bh)F(<(bh))+ꇒbhG(s)ds-ꇒvG(s)ds00=(v-bh)F(<N-1(bh))-ꇒvG(s)dsbh=N-13(v-bh)F(<(bh))-(v-bh)FN-1(v)>0(17)춬퇹뗘vꇊ3(v,ꮀv]쪱폐:U1N-1c-U0={(v-bh)+(bh-b)lF(<N-(b))l}-(v-b)F(<(b))=(v-bh)+ꇒbhG(s)ds-ꇒvG(s)ds00(18)=ꇒv(1-G(s))ds>0bh쯹틔Uc-U0>0,벴탐믟헟뗄웚췻쫕틦퓶볓쇋ꆣ평폚3vꇊ[0,v]쪱폐:mc-mN-1N-1N-10={bhF(<(bh))-(bh-b)lF(<(b))l}-bF(<(b))=bhG(<(bh))-ꇒbhG(s)ds+0ꇒvG(s)ds-vG(v)0=bhG(<(bh))+ꇒvG(s)d(s-vG(v)19)bh=bhG3(<(bh))+(v-bh)G(v)-vG(v)=bhG3(<(bh))-bhG(v)떱vꇊ3(v,ꮀv]쪱폐:mN-1c-m0={bh-(bh-b)lF(<N-1(b))l}-bF(<(b))=3bh(v)-ꇒ3b(v)hG(s)ds+ꇒvG(s)ds-vG(v)00=3bh(v)+ꇒvG(s)ds-vG(v)3b(v)h122
2008쓪뗚5웚=33bh(v)+(v-bh(v))G(v)-vG(v)(20)=33bh(v)-bh(v)G(v).쯹틔3,떱bh(v)G(<(bh(v)))<bh(v)G(v)쪱,Emc-Em0<0,벴탐믟헟뗄웚췻횧뢶붫믡복짙ꆣ떫쫇튪쪹탐믟헟뗄웚췻횧뢶쯦ퟅ믱쪤룅싊뗄퓶볓튲퓶볓퓲탨튪뷏잿뗄쳵볾:틲캪퓚쟸볤vꇊ3(v,ꮀv]ퟜ듦퓚33v쪹뗃늻뗈쪽bh(v)<bh(v)G(v)돉솢,쯹틔퓚쟸볤3vꇊ[0,v)쪹뗃늻뗈쪽bh(v)G(<(bh(v)))>3bh(v)G(v)돉솢뗄쳵볾뮹늻쓜놣횤Emc-Em0ꆣ쓇쎴폐쿞뢯냜뗄듦퓚뛔컯욷쯹폐헟쫇폐샻뮹쫇늻샻쓘?튪믘듰헢룶컊쳢,탨튪쳖싛폐쿞뢯냜뛔컯욷쯹폐죋웚췻쫕틦뗄펰쿬ꆣ퓚쎻폐뢯냜뗄쟩뿶쿂,컯욷쯹폐죋뗄웚췻쫕틦캪:Eꚰ0=NEm0=NꇒꮀvN-1bF(<(b))f(v)dv0(21)=NꇒꮀvvG(v)-0ꇒvG(s)dsf(v)dv0폐쿞뢯냜듦퓚쟒쎻폐놻웤쯻뺺뇪헟랢쿖뗄쪱뫲,컯욷쯹폐헟뗄웚췻쫕틦캪:Eꚰ=(N-1)Em+Emc=(NN-2N-1-1)ꇒꮀvbF(<(b))F(<h(b))f(v)dv+ꇒ3v[bhF(<N-1(bh))-(bh-b)lF(<(b))l]00ꆡf(v)dv+ꇒꮀv33-1[bh(v)-(bh(v)-b)lFN(b)l]f(v)dv0=ꇒꮀv-2N-1N-1{(N-1)bF(<N(b))F(<h(b))+[bhF(<(bh))-(bh-b))lF(<(b)l]}f(v)dv0ꆡꇒꮀv{(NN-2333N-1-1)bF(<(b))F(<h(b))+[bh(v)-(bh(v)-b())lvF(b)l]}f(v)dv3v(22)ꆡꆡ쏼쳢4ꆡ폐쿞뢯냜듦퓚,뛸웤쯻뺺뇪헟폖늻횪뗀뢯냜듦퓚뗄쟩뿶쿂,떱bh(v)G(<(bh(v)))<33bh(v)G(v)쪱,컯욷쯹폐헟뗄웚췻쫕틦튻뚨복짙ꆣ떱bh(v)G(<(bh(v)))-bh(v)G(v)>0(vꇊ3[0,v])돤럖듳쪱,컯욷쯹폐헟뗄웚췻쫕틦닅뿉쓜퓶볓ꆣ평쏼쳢3벰(21),(22)뷡싛쿔좻돉솢,뿉볻헢훖폐쿞뢯냜듦퓚떫폖늻놻웤쯻뺺뇪헟횪뗀뗄쟩탎쿂,뷡맻뛔컯욷쯹폐헟뛸퇔늢럇튻뚨늻샻ꆣ쯄ꆢ뢯냜돌뛈훰붥퓶잿쯹닺짺뗄펰쿬쿂쏦컒쏇쳖싛떱뢯냜돌뛈훰붥퓶잿,벴탐믟헟믱뗃춬쪱돶뇪룶쫽퓶볓쪱,폐쿞뢯냜탐캪뛔엄싴뷡맻닺짺뗄펰쿬ꆣ볙뚨탐믟헟놻퓊탭춬쪱돶k(>2)룶뇪,볇쯻뗄k룶뺺볛몯쫽캪:ꛂ(1)ꇜꛂ(2)ꇜꆭꇜꛂ(k);쿠펦뗄뇪볛볇캪:b(1)ꇜb(2)ꇜꆭb(k)ꆣ웤쯻쳵볾뚼놣돖늻뇤ꆣ퓲웤쯻뺺뇪헟뗄ퟮ듳뮯컊쳢놣돖늻뇤,뛸탐믟헟뷢쿂쏦ퟮ듳뮯컊쳢:max:(v1-b(1))G(<(b(1)))+(v1-b(2))[G(<(b(2)))-G(<(b(1)))]+ꆭ+ꆡ(v1-b(k)[G(min{<(b(k)),ꮀv})-G(<(b(k-1)))]폚쫇폐틔쿂튻뷗쳵볾:맘폚b(1)폐F(<(b(1)))(b(2)-b(1))=(N-1)f(<(b(1)))<ꇤ(23)(b(1))ꆡꆡ맘폚b(2)폐123
쳯맺잿ꆢ쇵뒺:쏜럢볛룱엄싴믲헐뇪훐뗄폐쿞뢯냜F(<(b(2)))(b(3)-b(2))=(24)(N-1)f(<(b(2)))<ꇤ(b(2))ꆡꆡꆭꆭ맘폚b(k-1)폐F(<(b(k-1)))(b(k)-b(k-1))=(25)(N-1)f(<(b(k-1)))<ꇤ(b(k-1))ꆡꆡ맘폚b(k)폐f(<(b(k)))<ꇤ(b(k))FN-1(<(b(k-1)))+=3(v1-b(k))(N-1)1vꇊ[0,v]F(<(b(k)))F(<(b(k)))ꇊ3min{<(b(k)(v)),ꮀ3[v,ꮀv]v}ꇔꮀvvꇊ[v,ꮀv](26)웤훐3v쫇랽돌<(b(k)(v))=ꮀv뗄뷢ꆣ폚쫇퓚뻹뫢쪱,v1=<(k)(b(k))ꆡꆡ3vꇊ[0,v]뇈뷏(1)뫍(26),컒쏇폐<(k)(b)ꇜ<(b),뷸뛸:ꛂ(v)ꇜꛂ(k)(v).평(1),(2),(23)ꆪ(26)뺭볆쯣뗃탐믟헟뗄뺺뇪몯쫽죧쿂:ꛂ(1)(v)=b(2)-ꇒb(2)G(x)dx(27a)0G(b(2))ꛂG(x)(2)(v)=b(3)-ꇒb(3)0Gdx(27b)(b(3))ꆭꆭꛂ(k-1)(v)=b(k)-ꇒb(k)G(x)dx(27c)0G(b(k))ꛂFN-1(b)(k))G(x)(k)(v)=v-1-F(<N-1(b(k)))ꇒ<(b(k)3dxꆡ떱vꇊ[0,v](27d)0G(<(b(k)))ꆡꆡ쏼쳢5ꆡ떱웤쯻뺺뇪헟늻횪뗀폐쿞뢯냜듦퓚뗄쟩뿶쿂,탐믟헟뗄돶뇪닟싔평(27a)ꆪ(27c)벰(28)룸돶,웤쯻뺺뇪헟뗄돶뇪닟싔늻뇤평(2)룸돶;쟒폐죧쿂맘쾵돉솢:ꛂ(1)(v)ꇜꛂ(2)(v)ꇜꆭꛂ(k-1)(v)ꇜꛂ(v)ꇜꛂ(k)(v)FN-1(b(k))ꛂv-1-(k)(v)=F(<N-1(b(k)))ꇒ<(b)(k)G(x)3dxvꇊ[0,v]0G(<(b(k)))(28)b(ꮀv)vꇊ3(v,ꮀv)ꆡꆡ횤쏷:돽(28)쪽췢웤쯻뗄돶뇪닟싔틑뺭평쯹쟳맽돌횤쏷3,떱vꇊ[0,v]쪱튲틑뺭평(27d)룸돶,쯹틔횻탨횤쏷(28)쪽훐vꇊ3(v,ꮀv]뗄늿럖벴뿉,폫쏼쳢1뗄횤쏷맽돌샠쯆뿉틔횤쏷(28)벴캪쯹쟳뗄뻹뫢닟싔ꆣ늻뗈쪽맘쾵훐횻탨횤쏷ꛂ(k-1)(v)ꇜꛂ(v)벴뿉ꆣ컒쏇폃랴횤램,죴늻뗈쪽ꛂ(k-1)(v)ꇜꛂ(v)돉솢,뛔늻뗈쪽솽뇟내웤쯻죋뗄닟싔좡랴몯쫽뗃:v=<(ꛂ(v))<<(ꛂ(k-1)(v))=ꛂ(k)(v)폫ꛂ(k)(v)<v쎬뛜,맊쏼쳢돉솢ꆣ뷸튻늽뛸퇔,떱ꛂ(1)(v)>0쪱늻뗈뫅퇏룱돉솢ꆣ뇈뷏(6)뫍(28),컒쏇랢쿖떱웤쯻뺺뇪헟늻횪뗀폐쿞뢯냜듦퓚뗄쟩뿶쿂,놻퓊탭돶뇪룶쫽뗄듳킡뛔탐믟헟뗄ퟮ룟돶볛몯쫽쎻폐펰쿬,벴쫇ꛂh(v)=ꛂ(k)(v)ꆣ쓇쎴탐믟헟퓚쪹폃뛠듎돶뇪헢튻믺믡쪱,늻쫇붫웤퓚쟸볤[0,v]짏내뻹퓈럖늼럖엤,뛸쫇붫쯹폐뗄k-1듎돶뇪믺믡뚼폃퓚쟸볤[0,b(v)]짏,헢폫컒쏇뗄횱뻵늻튻훂ꆣ쿂쏦쳖싛뢯냜돌뛈뗄퓶잿뛔엄싴뷡맻쯹닺짺뗄펰쿬,벴쳖싛웤쯻뺺뇪헟뗄웚췻쫕틦뫍웚췻횧뢶ꆢ탐믟헟뗄웚췻쫕틦뫍웚췻횧뢶틔벰컯욷쯹폐헟뗄웚췻쫕틦쯦ퟅ탐믟헟놻퓊탭돶뇪룶쫽뗄퓶볓124
2008쓪뗚5웚쫇죧뫎랢짺뇤뮯뗄ꆣ컒쏇냑훷튪뷡싛ퟜ뷡캪죧쿂쏼쳢:쏼쳢6ꆡ떱웤쯻뺺뇪헟늻횪뗀폐쿞뢯냜듦퓚뗄쟩뿶쿂,웤쯻뺺뇪헟뗄웚췻쫕틦뫍웚췻횧뢶폫탐믟헟돶뇪뗄룶쫽뗄뛠맑컞맘;탐믟헟뗄웚췻쫕틦믡훰붥퓶볓,뛸웚췻횧뢶믡훰붥복짙;컯욷쯹폐헟뗄웚췻쫕틦믡훰붥복짙ꆣ횤쏷:컒쏇쿈횤쏷웤쯻뺺뇪헟뗄웚췻쫕틦뫍웚췻횧뢶폫탐믟헟놻퓊탭돶뇪뗄룶쫽뗄뛠맑컞맘ꆣ평폚웤쯻뺺뇪헟쏦뛔폐k(>2)룶돶뇪믺믡뗄탐믟헟쪱,쯻쏇뗄뇪볛뇘탫듳폚탐믟헟뗄ퟮ룟뇪볛뫍웤쯻럇탐믟헟뗄ퟮ룟뇪볛쪱닅쓜펮뗃컯욷,쯹틔듋쪱쯻쏇펮뗃컯욷뗄룅싊캪,쓇쎴쯻쏇뗄웚췻킧폃캪p=FN-2(<(b))F(<(k)(b)):EUk=ꇒꮀvN-2(v-b)F(<(b))F(<(k)(b))f(v)dv(29)0쯻쏇뗄웚췻횧뢶캪:Emk=ꇒꮀvN-2b(v)F(<(b))F(<(k)(b))f(v)dv(30)0평폚ꛂh(v)=ꛂ(k)(v),뷸뛸폐:<h(b(v))=<(k)(b(v)),쯹틔EUk=EU;Emk=Em,벴웤쯻뺺뇪헟뗄웚췻쫕틦뫍웚췻횧뢶쎻폐쯦ퟅ탐믟헟뗄돶뇪룶쫽뗄퓶볓뛸랢짺뇤뮯ꆣ컒쏇쿖퓚횤쏷탐믟헟뗄웚췻쫕틦믡쯦ퟅ쯻돶뇪룶쫽뗄퓶볓훰붥퓶볓,뛸웚췻횧뢶믡훰붥복짙ꆣ탐믟헟뗄웚췻쫕틦캪:EUkc=ꇒ3vN-1N-1{(v1-b(k))F(<(b(k)))+(b(k)-b(k-1))F(<(b(k-1)))0ꆡ+N-1N-1(b(k-1)-b(k-2))F(<(b(k-2)))+(b(k-2)-b(k-3))F(<(b(k-3)))ꆡ+ꆭꆭꆡ+N-1N-1(b(3)-b(2))F(<(b(2)))+(b(2)-b(1))F(<(b(1)))}f(v1)dv1ꆡ+ꇒꮀv33N-1{(vv)-b31-b(k)(v))+(b(k)((k-1))F(<(b(k-1)))vꆡ+N-1(b(k-1)-b(k-1))F(<N-1(b(k-2)))+(b(k-2)-b(k-3))F(<(b(k-3)))ꆡ+ꆭꆭꆡ+N-1N-1(b(3)-b(2))F(<(b(2)))+(b(2)-b(1))F(<(b(1)))}f(v1)dv13F(=ꇒvN-1b(k))k)1-G(s)ds+0F(<N-1(b(k)))ꇒ<(b)(k)G(s)ds+ꇒb(00ꇒb(k-1)G(s)ds0ꆡ+ꇒb(k-2)G(s)ds+ꆭꆭ+0ꇒb(2)G(s)dsf(v1)dv103v)ꆡ+ꇒꮀv3(v))+31-b(n)(vvꇒb((k)G(s)ds+0ꇒb(k-1)G(s)ds0ꆡ+ꇒb(k-2)G(s)ds+ꆭꆭ+0ꇒb(2)G(s)dsf(v1)dv1(31)0탐믟헟뗄웚췻횧뢶캪:Emkc=ꇒ3vN-1{b(k)F(<N-1(b(k)))+(b(k)-b(k-1))F(<(b(k-1)))0ꆡN-1N-1-(b(k-1)-b(k-2))F(<(b(k-2)))+(b(k-2)-b(k-3))F(<(b(k-3)))ꆡ-ꆭꆭꆡN-11-(b(3)-b(2))F(<(b(2)))-(b(2)-b(1))F(<N-(b(1)))}f(v1)dv1125
쳯맺잿ꆢ쇵뒺:쏜럢볛룱엄싴믲헐뇪훐뗄폐쿞뢯냜ꆡ+ꇒꮀv31{b-b3(k)(v)-(b(k)(k-1))F(<N-(b(k-1)))vꆡN-1N-1-(b(k-1)-b(k-2))F(<(b(k-2)))-(b(k-2)-b(k-3))F(<(b(k-3)))ꆡ-ꆭꆭꆡN-1N-1-(b(3)-b(2))F(<(b(2)))-(b(2)-b(1))F(<(b(1)))}f(v1)dv1(32)뇈뷏(12)폫(31)벰(13)폫(32),평폚b(k)(v)=bh(v),퓲쿔좻폐:EUkc>EUc,Emkc<Emc,벴쫇쯦ퟅ탐믟돶뇪룶쫽뗄퓶볓,탐믟헟뗄웚췻쫕틦퓚훰붥퓶볓,뛸쯻뗄웚췻횧뢶퓚훰붥복짙ꆣퟮ뫳횤쏷컯욷쯹폐헟뗄웚췻쫕틦쯦ퟅ탐믟돶뇪룶쫽뗄퓶볓훰붥복짙ꆣ쯻뗄웚췻쫕틦캪:Eꚰk=(N-1)Emk+Emkc=(NN-2-1)ꇒꮀvb(v)F(<(b(v)))F(<(k)(b(v)))f(v)dv0ꆡ+ꇒ3vN-1N-1{b(k)F(<(b(k)))-(b(k)-b(k-1))F(<(b(k-1)))0N-1-(b(k-1)-b(k-2))F(<-1(b(k-2)))-(b(k-2)-b(k-3))FN(<(b(k-3)))ꆡ-ꆭꆭꆡ-(b(3)-b(2))F(<N-1(b(2)))-(b(2)-b(1))FN-1(<(b(1)))}f(v1)dv1ꆡ+ꇒꮀv3N-1{b(v)-(b(k)-b3(k)(k-1))F(<(b(k-1)))vꆡN-1N-1-(b(k-1)-b(k-2))F(<(b(k-2)))-(b(k-2)-b(k-3))F(<(b(k-3)))ꆡ-ꆭꆭꆡ-1N-1-(b(3)-b(2))FN(<(b(2)))-(b(2)-b(1))F(<(b(1)))}f(v1)dv1(33)춬퇹평폚b(k)(v)=bh(v),쯹틔뇈뷏(22)폫(33)쿔좻폐Eꚰk<Eꚰ,튲벴쫇컯욷쯹폐헟뗄웚췻쫕틦쯦ퟅk뗄퓶듳훰붥복짙ꆣ컥ꆢ뷡ꆡ싛ퟷ캪엤훃컯욷뗄폐킧믺훆,엄싴뫍헐뇪퓚쿖쪵훐뗄펦폃풽살풽뛠,뛔죋쏇뗄펰쿬튲풽살풽듳ꆣ평폚뫜뛠엄싴뫍헐뇪맽돌쫇퓚훷돖죋뗄닙ퟷ쿂췪돉뗄,튲벴쫇컯욷쯹폐죋뫍훷돖죋횮볤듦퓚캯췐ꆪ듺샭맘쾵,퓚샻틦뗄쟽쪹쿂훷돖죋믡ퟶ돶캥놳횰튵뗀뗂뗄쫂쟩살ꆣ쯻쏇뿉쓜닉폃뛠훖탎쪽뫍늿럖뺺뇪죋뷡돉샻틦릲춬쳥살믱좡뛮췢뗄쫕틦,뛸헢쫇틔웤쯻뺺뇪헟뗄샻틦쯰쪧캪듺볛뗄,쟒쪹뗃쯹닉폃뗄엄싴믺훆엤훃컯욷뗄폐킧탔복죵ꆣ헢퇹뛔엄싴믲헐뇪훐뗄뢯냜탐캪뷸탐퇐뺿뻍럇뎣폐뇘튪ꆣ내뢯냜랢짺뗄뷗뛎뿉틔럖캪쫂잰뢯냜뫍쫂뫳뢯냜,내뢯냜뗄퇏훘돌뛈튲뿉틔럖캪폐쿞뢯냜뫍뻸뛔뢯냜ꆣ컒쏇붫엄싴랢짺잰풤짨뫃엄싴탎쪽,퓚엄싴맽돌훐내쫂잰풤짨뗄뇪ힼ살횴탐뗄뢯냜탎쪽돆캪쫂잰뢯냜;쿠펦뗘냑퓚엄싴맽돌뷡쫸뫳엤훃뷡맻릫늼잰랢짺뗄뢯냜돆캪쫂뫳뢯냜ꆣ내탐믟헟퓚엄싴믲헐뇪훐쯹믱뗃뗄쳘좨뗄뛠맑살쟸럖폐쿞뢯냜뫍뻸뛔뢯냜,뇈죧퓚컒쏇쯹퇐뺿뗄뢯냜훐탐믟헟뷶뷶뗃떽뛠듎돶뇪믺믡뛸쎻폐뻸뛔뗄쳘좨ꆣ퓚샠쯆폚폅쿈웺좨(theRightofFirstRefusal)뗄쟩뺰훐퓚믱뗃쇋웤쯻뺺뇪헟뗄뇪볛뫳,탐믟헟퓙뻶뚨튪늻튪닎폫엄싴,듋쪱탐믟헟펵폐뻸뛔뗄쳘좨,쓇쎴쿠펦뗄뢯냜튲돆캪뻸뛔뢯냜ꆣ쏜럢엄싴뗄맽돌뗄럇릫뾪탔쳘뗣,튻랽쏦폐샻폚놣뮤닎폫헟뗄믺쏜탅쾢,쇭튻랽쏦튲룸뢯냜뗄닺짺쳡릩쇋뿕볤,쯹틔뛔쏜럢볛룱엄싴훐뗄뢯냜탐캪뷸탐퇐뺿폈캪훘튪ꆣ퓚헢욪컄헂훐컒쏇훷튪퇐뺿쇋쏜럢볛룱엄싴훐뗄폐쿞뢯냜탐캪ꆣ쫂쪵짏,컒쏇쯹닉폃뗄쒣탍126
2008쓪뗚5웚룸돶쇋튻룶퇐뺿뢯냜컊쳢뗄쇭튻훖톡퓱,잰죋뗄컄쿗훐쫇춨맽볙뚨쒳룶볈뚨랽쪽쿂뢯냜듦퓚룅싊뗄듳킡살퇐뺿뢯냜돌뛈뛔뺭볃쯹퓬돉뗄펰쿬ꆣ떫뢯냜랢짺폫럱뮹쫇튻룶캴횪쫽,뷶뷶뾼달쇋뢯냜좷쪵랢짺쪱쯹닺짺뗄펰쿬폫쎻폐뢯냜뗄뷡맻뗄튻훖볓좨욽뻹ힴ첬ꆣ뛸컒쏇쯹퇐뺿뗄쫇뢯냜뿏뚨듦퓚쟒쏷좷뚨틥쇋뢯냜뗄돌뛈뗄쟩뿶,늢뾼달쇋뢯냜돌뛈훰붥퓶잿뗄맽돌뛔뺭볃뷡맻쯹닺짺펰쿬뗄뇤뮯ힴ뿶ꆣ컒쏇뗄퇐뺿랢쿖,퓚웤쯻뺺뇪헟늻횪뗀폐쿞뢯냜듦퓚뗄쟩뿶쿂,탐믟헟믱뗃뗄폐쿞쳘좨퓚튻뚨뗄랶캧쓚뇤돉쇋뻸뛔쳘좨,튲벴쫇퓚맀볛캻폚쟸볤3(v,ꮀv]쪱탐믟헟뿏뚨믱뗃컯욷,헢뗣뫍폅쿈웺좨뗄뷡맻샠쯆ꆣ룃랽램퓚퇐뺿웤쯻컊쳢쪱튲춬퇹쫊폃:뇈죧럶돖컊쳢,룸놻럶돖헟뻸뛔쳘좨뮹쫇폐쿞쳘좨룼뫏쫊ꆣ닎뾼컄쿗Branco,F.,1994ꆰ,FavoringDomesticFirmsinProcurementContractsꆱJournalofInternationalEconomics,,PP65ꆪ,,2004ꆰ,CompetitiveProcurementwithCorruptionꆱRANDJournalofEconomics,,PP50ꆪ,,2004ꆰ,BriberyandFavoritismbyAuctioneersinSealed2BidAuctionsꆱmimeo,Institutdꆯ,,2002ꆰ,CompetitionandCorruptioninProcurementꆱEuropeanEconomicReview,,PP1273ꆪ,O.,,2005ꆰCorruptionandCompetitioninProcurementꆱRANDJournalofEconomics,,,PP1ꆪ,,1995ꆰ,AuctionsandCorruption:HowtoCompensatetheAuctioneerꆱmimeo,,,1991ꆰ,AuctionDesignandFavoritismꆱInternationalJournalofIndustrialOrganization,,PP9ꆪ,,2005ꆰ,TheEffectofCorruptiononBiddingBehaviorinFirst2PriceAuctionsꆱ,,,2004ꆰ,AuctionsandCorruptionꆱmimeo,,,1989,ꆰGovernmentProcurementandInternationalTradeꆱJournalofInternationalEconomics,,PP291ꆪ,,2003ꆰ,CorruptionandAuctionsꆱmimeo,AustralianNationalUniversityandEFGEΠ,,1998ꆰ,DiscriminatoryPublicProcurementPolicyandCostReductionIncentivesꆱJournalofPublicEconomics,,PP349ꆪ,S.,1995ꆰ,PromotingFairCompetitioninPublicProcurementꆱJournalofPublicEconomics,,PP283ꆪ(ShanghaiUniversityofFinanceandEconomics;SchoolofEconomicsatHuazhongUniversityofScienceandTechnology,WuhanUniversityofTechnology)Abstract:Thispaperinvestigatestheeffectcausedbytheauctioneerꆯslimitedcorruptioninfirstpricesealed2bidauctionmechanism,,thecorruptionbehaviordoesnotaffectthebiddersꆯbehaviorandtheoutcome,,,thehighestbidofthebriberwillbemoreaggressivethanthebidofanyotherbidder,whichleadstodecreaseinotherbiddersꆯwinningprobabilitiesandincreaseinthebriberꆯswinningprobability,ꆯ,thebriberꆯsbiddingstrategydiffersfromnormalintuitionifthebriberhastherighttosubmitmoreꆰlegitimateꆱ,:Sealed2BidAuctions;ExpectedPayoff;ExpectedPayment;LimitedCorruptionJELClassification:D440(퓰죎뇠벭:쿾ꆡ폷)(킣뛔:쿾ꆡ언)127
