Article ID Journal Published Year Pages File Type
5072104 Games and Economic Behavior 2012 21 Pages PDF
Abstract
► Second-price auction is optimal with resale and 2 bidders. ► English auction is optimal with resale and one strong and n−1 identical weak bidders. ► Optimal equilibria involve behavioral bidding strategies. ► Optimal equilibria satisfy a no-regret property.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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Optimality and the English and second-price auctions with resale
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