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Timber Sale Auctions with Random Reserve Prices

✍ Scribed by Li, Tong; Perrigne, Isabelle

Book ID
121489253
Publisher
MIT Press
Year
2003
Tongue
English
Weight
161 KB
Volume
85
Category
Article
ISSN
0034-6535

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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