Secondary markets in auctions with endogenous valuations

Research output: Contribution to journalArticle

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 languageEnglish
Pages (from-to)307-311
Number of pages5
JournalEconomics Letters
Volume48
Issue number3-4
DOIs
Publication statusPublished - 1995

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