Auctions with budget-constrained buyers: a nonequivalence result
AbstractAn analysis of the impact of binding budget constraints on the expected revenue generated by sealed-bid and oral auctions, showing that revenue is higher in the former case.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Cleveland in its series Working Paper with number 9402.
Date of creation: 1994
Date of revision:
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447R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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- Carolyn Pitchik & Andrew Schotter, 1988. "Perfect Equilibria in Budget-Constrained Sequential Auctions: An Experimental Study," RAND Journal of Economics, The RAND Corporation, vol. 19(3), pages 363-388, Autumn.
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