The paper analyzes the essential properties of bidder equilibrium strategies in the multi-unit uniform-price auction. In the auction the seller offers several identical units for sale, specifies a minimum accepted bid (reservation price) and sets maximum number of bids that any bidder can...

I show that in a private value multi-unit uniform-price auction, the reservation price increases both the efficiency and revenue. In equilibrium the difference between the true value of a unit and the submitted bid (shading) is different for each unit; therefore, the seller cannot allocate units...