Yue Yuan
Institution
University College London
PhD Year
2021
y.yuan1@outlook.com
FTG Membership
Member
Website
https://www.yue-yuan.com/
Areas of Expertise
Featured Work
Security Design under Common-Value Competition
Jun 11, 2026
This paper studies security design by bidders with dispersed information about a common-value investment opportunity. Among a broad set of securities, bidders offer debt financing—the flattest securities. A first reason is that debt mitigates bidders' exposure to the winner's curse when there are two bidders. Second, the entrepreneur either has an informational advantage initially or gains one by inferring from the bids, and is more...
