Revenue ranking of first-price auctions with resale

Bernard Lebrun ()

Journal of Economic Theory, 2010, vol. 145, issue 5, 2037-2043

Abstract: When the price setter in post-auction resale is chosen according to exogenous probabilities, Hafalir and Krishna (2008) [2] showed that the first-price auction brings more expected revenues than the second-price auction with truth-bidding bidders. We complete their revenue ranking by proving that the first-price auction produces higher expected revenues the higher the probability the auction winner sets the resale price.

Keywords: Auctions; Resale; First-price; Mechanism (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:145:y:2010:i:5:p:2037-2043

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