An auction house runs a second-price auction with a possibility of resale through re-auctions. It collects listing and closing fees from the seller. We find the fees which maximize the revenue of the auction house. In particular, we show that the optimal listing fee is zero. Our findings are consistent with the policies of eBay, Amazon, Yahoo, and other Internet auctions.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Paper provided by Kyiv School of Economics in its series Discussion Papers with number
3.
Length: Date of creation: Jan 2008 Date of revision: Handle: RePEc:kse:dpaper:3
Note: Published in Review of Economic Design, 12, 155-163 (2008) Contact details of provider: Postal: 13 Yakira Str, 04119 Kyiv Phone: (38-044)492-8012 Fax: (38-044)492-8011 Email: Web page: http://www.kse.org.ua/ More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Andriy Zapechelnyuk).
Find related papers by JEL classification: D44 - Microeconomics - - Market Structure and Pricing - - - Auctions C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
This paper has been announced in the following NEP Reports:
References listed on IDEAS 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.:
Rod Garratt & Thomas Tröger, 2005.
"Speculation in Standard Auctions with Resale,"
Discussion Papers
42, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
[Downloadable!]
Charles Zhoucheng Zheng, 2002.
"Optimal Auction with Resale,"
Econometrica,
Econometric Society, vol. 70(6), pages 2197-2224, November.
[Downloadable!] (restricted)
Giacomo Calzolari & Alessandro Pavan, 2003.
"Monopoly with Resale,"
Working Papers
2003.20, Fondazione Eni Enrico Mattei.
[Downloadable!]
Other versions:
Giacomo Calzolari & Alessandro Pavan, 2004.
"Monopoly with Resale,"
Discussion Papers
1393, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
[Downloadable!]
Giacomo Calzolari & Alessandro Pavan, 2005.
"Monopoly with Resale,"
Discussion Papers
1405, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
[Downloadable!]
R. Preston McAfee & Daniel Vincent, 1994.
"Sequentially Optimal Auctions,"
Discussion Papers
1104, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
[Downloadable!]
Cited by: (explanations, 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.)