Albrecht, James; Gautier, Pieter; Vroman, Susan - In: Journal of Economic Theory 147 (2012) 1, pp. 389-392
We consider a market in which sellers compete for buyers by advertising reserve prices for second-price auctions. Applying the limit equilibrium concept developed in Peters and Severinov (1997) [1], we show that the competitive matching equilibrium is characterized by a reserve price of zero....