Bidding off the wall: why reserve prices may be kept secret
Article Abstract:
An example is used to show that sellers with random reservation values can improve their ex ante expected profits from common-value auctions via an auction policy that maintains the reserve price's secrecy. In traditional auctions, the reserve price is announced. A covert reserve price enables the seller to promote increased bidder participation. Therefore, secret reserve prices can increase the linkage of the price paid to the value of the purchased object.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1995
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On two competing mechanism for priority-based allocation problems
Article Abstract:
A comparative analysis of agent-optimal stable mechanism and top trading cycles algorithm is presented. The two algorithms are used to solve priority-based allocation problems.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 2006
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Building as an optimal selling mechanism for a multiple-good monopolist
Article Abstract:
A price scheduling algorithm to boost the sales of multiple objects is developed taking customer choice into consideration.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 2006
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