Auctions with private uncertainty and resale opportunities. (Q1810427): Difference between revisions
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scientific article
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English | Auctions with private uncertainty and resale opportunities. |
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Auctions with private uncertainty and resale opportunities. (English)
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9 June 2003
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The paper considers the case of auctions followed by an opportunity for resale where the bidder valuations are endogenously determined, reflecting anticipated profit from buying/selling in the resale market. To this end, it considers a two-stage model in which an auction in the first stage is followed by a resale auction, held by the first-stage winner. It also examines two cases, the case where resale takes place under complete information, and the case where the players have asymmetric information in the resale market.
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valuation
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market models
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