Article ID Journal Published Year Pages File Type
5062310 Economics Letters 2007 6 Pages PDF
Abstract

This paper studies the performance of auction formats when synergies are present between sequentially auctioned objects. Although the second-price auction format performs better in terms of efficiency and revenue, bankruptcy problems are less severe in the first-price auction format.

Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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Synergies are a reason to prefer first-price auctions!
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