Jehiel, Philippe; Moldovanu, Benny; Stacchetti, Ennio - In: American Economic Review 86 (1996) 4, pp. 814-29
The authors consider situations where a sale affects the ensuing interaction between potential buyers. These situations are modeled by assuming that an agent who does not acquire the object for sale incurs an identity-dependent externality. The authors construct a revenue-maximizing auction for...