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Hybrid auctions revisited

Dan Levin () and Lixin Ye ()

Economics Letters, 2008, vol. 99, issue 3, 591-594

Abstract: We examine hybrid auctions with affiliated private values and risk-averse bidders, and show that the optimal hybrid auction trades off the benefit of information extraction in the ascending-bid phase and the cost of reduced competition in the sealed-bid phase.

Date: 2008
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