Janssen, Maarten C.W.; Karamychev, Vladimir A.; … - In: Games and Economic Behavior 72 (2011) 2, pp. 594-601
There is by now a large literature arguing that auctions with a variety of after-market interactions may not yield an efficient allocation of the objects for sale, especially when the bidders impose strong negative externalities upon each other. In this note, we argue that these inefficiencies...