Article ID Journal Published Year Pages File Type
5072078 Games and Economic Behavior 2013 14 Pages PDF
Abstract
► We study how resale affects auctions with costly entry where bidders possess two-dimensional private types: entry costs and valuations. ► We establish the existence of symmetric entry equilibrium and identify sufficient conditions under which the equilibrium is unique. ► The opportunity of resale affects both entry and bidding; it induces motivation for speculative entry and resale hunting abstentions. ► The effects of resale on expected revenue and efficiency are both ambiguous.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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