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Zheng’s Optimal Mechanism with Resale and the Second-Price Auction

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Author Info
Bernard Lebrun () (Department of Economics, York University)
Abstract

We show that Zheng (2002)’s optimal mechanism in the presence of resale can be interpreted as an equilibrium of an ascending-price auction and, in the two-bidder case, as an equilibrium with a no-regret property of the English and second-price auctions. We also show that it can be extended beyond Zheng (2002)’s original assumptions

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File URL: http://dept.econ.yorku.ca/research/workingPapers/working_papers/2006/zmech-wp-lebrun.pdf
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Paper provided by York University, Department of Economics in its series Working Papers with number 2006_6.

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Length: 28 pages
Date of creation: 2006
Date of revision:
Handle: RePEc:yca:wpaper:2006_6

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Related research
Keywords: Zheng’s mechanism; optimality; resale; second-price auction; independent private values;

Find related papers by JEL classification:
D44 - Microeconomics - - Market Structure and Pricing - - - Auctions

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This page was last updated on 2009-11-23.

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