Hu, Audrey; Offerman, Theo; Zou, Liang - 2014
be risk averse, (ii) the bidders can have heterogeneous risk preferences, and (iii) the auction can have a binding … of the English auction. We discuss how this finding is related to the seller's degree of risk aversion, the reserve price … auction - in a setting that extends Maskin and Riley (1984, Econometrica 52: 1473-1518) in three aspects: (i) the seller can …