Goeree, Jacob K.; Lien, Yuanchuan - In: Theoretical economics : TE ; an open access journal in … 11 (2016) 1, pp. 41-52
When goods are substitutes, the Vickrey outcome is in the core and yields competitive seller revenue. In contrast, with complements, the Vickrey outcome is efficient but not necessarily in the core and revenue can be low. Non-core outcomes may be perceived as unfair since there are bidders...