Georganas, Sotiris; Kagel, John - In: Journal of Economic Theory 146 (2011) 1, pp. 359-371
We study auctions with resale based on Hafalir and Krishna's (2008) [6] model. As predicted, weak bidders bid more with resale than without, so that average auction prices tend to increase. When the equilibrium calls for weak types to bid higher than their values with resale they do, but not...