Gong, Qiang; Tan, Xu; Xing, Yiqing - In: Review of Economic Design 18 (2014) 1, pp. 11-35
) vary with the order of sellers in sequential auctions where sellers have different reservation values. First, when reserve … prices are exogenously set to be sellers’ reservation values, a social planner would order sellers from low to high based on … their reservation values, which yields a uniquely efficient order that maximizes the social welfare. However, an auctioneer …
