| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 957444 | Journal of Economic Theory | 2010 | 7 Pages |
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.
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Authors
Bernard Lebrun,