Kumru, Cagri; Yektas, Hadi - Volkswirtschaftliche Fakultät, … - 2008
We analyze the optimal auction of multiple non-identical objects when buyers are risk averse. We show that the auction … aversion of the buyers. The optimal auction which remains weakly efficient has the following properties: The seller perfectly … insures all buyers against the risk of losing the object(s) for which they have high valuation. While the buyers who have high …