The paper analyzes the revenue of auctions with asymmetric bidders with a large, but finite number of players. We explicitly calculate the seller's expected revenue in large asymmetric first-price, second-price, and optimal auctions to O(1/n ³) accuracy, where n is the number of players. These...

The paper analyzes the seller's expected revenue in auctions with a large number of asymmetric players. We explicitly calculate the revenue in large asymmetric first-price, second-price, and optimal auctions to O(1/n^3) accuracy, where n is the number of players. These calculations show that the...