Glossary of economics research
Results of search for affiliated follow:
affiliated:
From Milgrom and Weber (Econometrica, 1982, page 1096): 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.
Source: Milgrom and Weber, Econometrica, 1982, p 1096.
Contexts: auctions; micro theory; modelling
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