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Reserve price commitments in auctions

Menezes, Flavio; Ryan, Matthew

Description

It is well known that the optimal auction-one that maximizes the seller's expected revenue-can be implemented using a standard auction format with a suitably chosen reserve price. This reserve price is above the seller's value of retaining the object and

CollectionsANU Research Publications
Date published: 2005
Type: Journal article
URI: http://hdl.handle.net/1885/85267
Source: Economics Letters
DOI: 10.1016/j.econlet.2004.09.009

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