Reserve prices in a dynamic auction when bidders are capacity-constrained
AbstractAllowing for a reserve price in a dynamic auction with capacity-constrained bidders changes the equilibrium in an unexpected way. The distribution of winning bids contains a mass point; several bidder types "bunch" at the reserve price.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 108 (2010)
Issue (Month): 3 (September)
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Web page: http://www.elsevier.com/locate/ecolet
Dynamic auction Capacity constraint Reserve price;
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