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 willing to pay more than the winners' payments. Moreover, non-core outcomes render …
