Andreyanov, Pasha; Caoui, El Hadi - In: Quantitative economics : QE ; journal of the … 13 (2022) 3, pp. 1203-1256
allocate more efficiently by keeping her reserve price secret and revising it using submitted bids. We build a model of a first‐price … auction under unobserved auction heterogeneity-imperfectly observed by the seller-that captures this rationale and derive …