Letina, Igor; Schmutzler, Armin - 2015 - Revised version, December 2015
approach of the supplier, but the best approach is unknown. Diversity of approaches is desirable because it generates an option … a low bid and a high bid. This allows the buyer to implement any level of diversity with the lowest revenue for the …, auctions implement the socially optimal diversity, but usually with higher rents for the suppliers. Fixed-prize tournaments …