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Effets de réputation dans les enchères : l’inégalité des perdants

Author

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  • Olivier Bos
  • Tom Truyts

Abstract

We study a symmetric private values model in which all the bidding ranks are used by an outside observer to infer the bidders’ types. In the class of sealed-bid auctions, we establish the revenue equivalence and determine the optimal auction, which requires an entry fee to extract all surplus from the lowest types. We provide a first reply about the optimal disclosure policy for the size of the bidding ranks. Moreover, there is no strategical equivalence anymore between the second-price auction and the English auction. Our results are useful for art auction houses and charity auctions.

Suggested Citation

  • Olivier Bos & Tom Truyts, 2021. "Effets de réputation dans les enchères : l’inégalité des perdants," Revue économique, Presses de Sciences-Po, vol. 72(3), pages 443-458.
    • Handle: RePEc:cai:recosp:reco_pr2_0172
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