Greenleaf, Eric A.; Ma, Jun.; Qiu, Wanhua.; Rao, Ambar G.; … - In: Management Science 48 (2002) 12, pp. 1640-1644
In this note, we identify two errors in Greenleaf, Rao, and Sinha's (1993) analysis of negotiation of guarantees in auctions. This note provides a high-level but self-contained summary of the revised results. We find that, in contrast with the earlier claim, guaranteed auctions lead to greater...