Auctions with private uncertainty and resale opportunities. (Q1810427): Difference between revisions

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.