haku: @journal_id 1405 / yhteensä: 110
viite: 10 / 110
| Tekijä: | Haile, Philip A. |
| Otsikko: | Partial pooling at the reserve price in auctions with resale opportunities |
| Lehti: | Games and Economic Behavior
2000 : NOV, VOL. 33:2, p. 231-248 |
| Asiasana: | AUCTIONS |
| Kieli: | eng |
| Tiivistelmä: | The use of reserve prices and the existence of secondary markets for the goods being sold are common to many auctions. The combination of these features can preclude existence of an equilibrium in symmetric separating bidding strategies, even in simple symmetric settings. With a reserve price sufficiently lower than the maximum (endogenous) valuation, a symmetric equilibrium still exists, but with some types pooling at the reserve. |
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