Promoting Entry and Efficiency via Reserve Prices
Reserve prices are used by sellers to modify the allocation induced by standard auctions. The existing literature has shown that, if the number of bidders is fixed, a reserve price can be used to increase expected revenues. This comes at the expense of efficiency when the auctioned good goes unsold....
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-06-01
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| Series: | Games |
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| Online Access: | https://www.mdpi.com/2073-4336/13/4/50 |