Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.11851/2576
Title: Effects of resale in second-price auctions with private participation costs
Authors: Akyol, Ethem
Keywords: Price Auctions
 Revenue
Issue Date: Sep-2019
Publisher: Elsevier B.V.
Source: Akyol, E. (2019). Effects of resale in second-price auctions with private participation costs. Mathematical Social Sciences.
Abstract: We consider second-price auctions with participation costs and investigate the effects of resale after an auction. There are two potential bidders whose valuations are commonly known. Bidders incur a privately known cost to participate in the auction. We examine how resale affects bidders’ entry behavior, seller's expected revenue, and social welfare. We show that resale increases (decreases) entry by the lower-(higher-)value bidder, inducing a “more symmetric” equilibrium, and generates higher revenue for the seller. Furthermore, while resale may be detrimental to ex post welfare, it always increases the ex ante welfare.
URI: https://hdl.handle.net/20.500.11851/2576
https://doi.org/10.1016/j.mathsocsci.2019.06.001
ISSN: 0165-4896
Appears in Collections:İktisat Bölümü / Department of Economics
Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
WoS İndeksli Yayınlar Koleksiyonu / WoS Indexed Publications Collection

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