Secondary markets in auctions with endogenous valuations

Luís Campos Cunha; Vasco Santos

doi:10.1016/0165-1765(94)00613-7

Secondary markets in auctions with endogenous valuations

Luís Campos Cunha, Vasco Santos

NOVA School of Business and Economics (NOVA SBE)

Research output: Contribution to journal › Article › peer-review

Abstract

Introducing secondary markets in endogenous-valuations auctions can increase or decrease the seller's revenue and affect the final allocation. Particularly, it restores Gilbert-Newbery's persistency result. Lastly, when auctioning licenses, the commodity's nature is also crucial for the auction's outcome.

Original language	English
Pages (from-to)	307-311
Number of pages	5
Journal	Economics Letters
Volume	48
Issue number	3-4
DOIs	https://doi.org/10.1016/0165-1765(94)00613-7
Publication status	Published - 1995

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abstract = "Introducing secondary markets in endogenous-valuations auctions can increase or decrease the seller's revenue and affect the final allocation. Particularly, it restores Gilbert-Newbery's persistency result. Lastly, when auctioning licenses, the commodity's nature is also crucial for the auction's outcome.",

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Secondary markets in auctions with endogenous valuations

Abstract

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