We add a resale stage to standard auctions with two bidders. Bids are either kept secret or made public. Either the auction winner or the auction loser chooses the resale price. We characterize an infinity of equilibria of the second-price auction and a unique equilibrium of the first-price...

We deviate from the symmetric case of the independent private value model by allowing the bidders’ value distributions, which depend on parameters, to be slightly different. We show that previous results about the equality to the first-order in the parameters between revenues from the...

If the value cumulative distribution functions are log-concave at the highest lower extremity of their supports of the first-price auction in the asymmetric indepent private values model.

In the independent-private-value model, we allow resale among bidders following a first-price sealed-bid, second-price sealed-bid, or English auction with two bidders. We consider two regimes with regard to the disclosure of the sealed bids: full disclosure and no disclosure. Either the auction...

If the value cumulative distribution functions are log-concave at the highest lower extremity of their supports, a simple geometric argument establishes the uniqueness of the equilibrium of the first-price auction in the asymmetric independent private value model.

If the value cumulative distribution functions are log-concave at the highest lower extremity of their supports of the first-price auction in the asymmetric indepent private values model.

We show that Zheng (2002)’s optimal mechanism in the presence of resale can be interpreted as an equilibrium of an ascending-price auction and, in the two-bidder case, as an equilibrium with a no-regret property of the English and second-price auctions. We also show that it can be extended...