Pagnozzi, Marco; Saral, Krista J. - Volkswirtschaftliche Fakultät, … - 2015
We analyze how the possibility of resale affects efficiency in multi-object uniform-price auctions with asymmetric … participate in a resale market after the auction. In all treatments, the possibility of resale increases efficiency after the … auction, but it also induces demand reduction by high-value bidders during the auction, which reduces auction efficiency. In …