Auctions with resale: Reserve prices and revenues

Gábor Virág ()

Games and Economic Behavior, 2016, vol. 99, issue C, 239-249

Abstract: We study auctions with resale and reserve prices. We characterize the equilibrium, and compare the revenues of the first price auction with that of the second price auction. We show that several results change when a reserve price is introduced. First, the second-price auction may yield higher revenues than the first-price auction. Second, the strong bidder is more likely to win than the weak bidder.

Keywords: Auctions; Resale (search for similar items in EconPapers)
JEL-codes: D44 D82 D83 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0899825616300859
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:99:y:2016:i:c:p:239-249

DOI: 10.1016/j.geb.2016.07.009

Access Statistics for this article

Games and Economic Behavior is currently edited by E. Kalai

More articles in Games and Economic Behavior from Elsevier
Bibliographic data for series maintained by Catherine Liu ().