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Revenue ranking of first-price auctions with resale

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  • Lebrun, Bernard

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.

Suggested Citation

  • Lebrun, Bernard, 2010. "Revenue ranking of first-price auctions with resale," Journal of Economic Theory, Elsevier, vol. 145(5), pages 2037-2043, September.
  • Handle: RePEc:eee:jetheo:v:145:y:2010:i:5:p:2037-2043
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    References listed on IDEAS

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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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    Cited by:

    1. repec:eee:indorg:v:55:y:2017:i:c:p:58-90 is not listed on IDEAS
    2. Kaplan, Todd R. & Zamir, Shmuel, 2015. "Advances in Auctions," Handbook of Game Theory with Economic Applications, Elsevier.
    3. Celik, Gorkem & Yilankaya, Okan, 2017. "Resale in second-price auctions with costly participation," International Journal of Industrial Organization, Elsevier, vol. 54(C), pages 148-174.

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