Revenue ranking of first-price auctions with resale
AbstractWhen the price setter in post-auction resale is chosen according to exogenous probabilities, Hafalir and Krishna (2008)  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.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 145 (2010)
Issue (Month): 5 (September)
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Web page: http://www.elsevier.com/locate/inca/622869
Auctions Resale First-price Mechanism;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Gupta, Madhurima & Lebrun, Bernard, 1999. "First price auctions with resale," Economics Letters, Elsevier, vol. 64(2), pages 181-185, August.
- Isa Hafalir & Vijay Krishna, 2008. "Asymmetric Auctions with Resale," American Economic Review, American Economic Association, vol. 98(1), pages 87-112, March.
- Haile, Philip A., 2003. "Auctions with private uncertainty and resale opportunities," Journal of Economic Theory, Elsevier, vol. 108(1), pages 72-110, January.
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