Phantom bidding against heterogeneous bidders

Daniel A. Graham, Robert C. Marshall, Jean Francois Richard

Research output: Contribution to journalArticle

22 Scopus citations

Abstract

If IPV bidders are distributionally heterogeneous then a revenue maximizing English auctioneer will, in general, find it optimal to use a non-constant reserve price that is a function of the observed bid sequence. An example is provided.

Original languageEnglish (US)
Pages (from-to)13-17
Number of pages5
JournalEconomics Letters
Volume32
Issue number1
DOIs
Publication statusPublished - Jan 1990

    Fingerprint

All Science Journal Classification (ASJC) codes

  • Finance
  • Economics and Econometrics

Cite this