Definition: Bidders' valuations
of a good being auctioned are affiliated if, roughly: " a high value of one
bidder's estimate makes high values of the others' estimates more
likely."
There may well be good reasons not to use the word correlated in place of affiliated. This editor is advised that there is some mathematical difference.(Econterms)
Terms related to Affiliated:
About.Com Resources on Affiliated: Writing a Term Paper? Here are a few starting points for research on Affiliated:
Books on Affiliated:
None
Journal Articles on Affiliated:
- Milgrom, P. and R. Weber. 1982.
"A Theory of Auctions and Competitive Bidding."
Econometrica. 50: 1089-1122.
