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Revenue ranking of first-price auctions with resale

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  • Lebrun, Bernard
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    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.

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Economic Theory.

    Volume (Year): 145 (2010)
    Issue (Month): 5 (September)
    Pages: 2037-2043

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    Handle: RePEc:eee:jetheo:v:145:y:2010:i:5:p:2037-2043

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    Web page: http://www.elsevier.com/locate/inca/622869

    Related research

    Keywords: Auctions Resale First-price Mechanism;

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    1. Isa Hafalir & Vijay Krishna, 2008. "Asymmetric Auctions with Resale," American Economic Review, American Economic Association, vol. 98(1), pages 87-112, March.
    2. Haile, Philip A., 2003. "Auctions with private uncertainty and resale opportunities," Journal of Economic Theory, Elsevier, vol. 108(1), pages 72-110, January.
    3. Gupta, Madhurima & Lebrun, Bernard, 1999. "First price auctions with resale," Economics Letters, Elsevier, vol. 64(2), pages 181-185, August.
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