Michelucci, Fabio - In: Games 13 (2022) 4, pp. 1-7
Reserve prices are used by sellers to modify the allocation induced by standard auctions. The existing literature has … may discourage entry. The reduction in the number of bidders caused by the reserve price in this situation is detrimental … may lead to more entry and raise the efficiency. Applications characterized by the presence of an incumbent who is better …