Julien, Benoît; Kennes, John; King, Ian - In: Journal of Institutional and Theoretical Economics (JITE) 158 (2002) 4, pp. 548-548
In a model with two buyers and sellers we consider the choice of sales mechanism from three possibilities: posted prices, and auctions with and without reserve prices. With homogenous goods, sellers´expected revenues are highestwhen both sellers auction with reserve prices 33% higher than if...