Discriminating Bidders Can Improve Efficiency in Auction
Auction is widely used in allocation and procurement of resources due to its desirable properties: efficiency and revenue maximization. It is well- known, however, that auction may fail to achieve efficiency when allocative externalities exist. Such a result may happen in the auction of the resource...
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| Format: | Article |
| Language: | English |
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Korea Development Institute
2014-11-01
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| Series: | KDI Journal of Economic Policy |
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| Online Access: | https://doi.org/10.23895/kdijep.2014.36.4.1 |