Abstract
Allowing for a reserve price in a dynamic auction with capacity-constrained bidders changes the equilibrium in an unexpected way. The distribution of winning bids contains a mass point; several bidder types “bunch” at the reserve price.
Repository Citation
Saini, Viplav. 2010. "Reserve Prices In A Dynamic Auction When Bidders Are Capacity-constrained." Economics Letters 108(3): 303-306.
Publisher
Elsevier
Publication Date
9-1-2010
Publication Title
Economics Letters
Department
Economics
Document Type
Article
DOI
https://dx.doi.org/10.1016/j.econlet.2010.05.024
Keywords
Dynamic auction, Capacity constraint, Reserve price, Economics
Document Version
post-print
Language
English
Format
text
