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Entry and Competition Effects in First-Price Auctions: Theory and Evidence from Procurement Auctions

✍ Scribed by LI, TONG; ZHENG, XIAOYONG


Book ID
111004823
Publisher
John Wiley and Sons
Year
2009
Tongue
English
Weight
643 KB
Volume
76
Category
Article
ISSN
0034-6527

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## Abstract When a secret reserve price is used in an auction, the auctioneer cannot guarantee that the good can be sold out at the auction, and can reauction the unsold objects in the next round. Motivated by this interesting feature observed in the procurement auctions organized by the Indiana De