Get 20M+ Full-Text Papers For Less Than $1.50/day. Subscribe now for You or Your Team.

Learn More →

Ex Post Information in Auctions

Ex Post Information in Auctions Abstract When buyers' private information about the value of an item for sale is correlated, the seller can increase expected revenue in a sealed bid auction by making the winner's payment a function of information available after the end of the auction. Specifically, revenue can be increased by making the payment a function of all the losing bids. In addition there are gains to making the payment contingent upon some signal of the object's value which becomes public at a later date. That is, there are gains to introducing positive royalty rates. This content is only available as a PDF. © 1988 The Review of Economic Studies Limited http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Review of Economic Studies Oxford University Press

Ex Post Information in Auctions

The Review of Economic Studies , Volume 55 (3) – Jul 1, 1988

Loading next page...
 
/lp/oxford-university-press/ex-post-information-in-auctions-gmXw9ouccZ

References (14)

Publisher
Oxford University Press
Copyright
© 1988 The Review of Economic Studies Limited
ISSN
0034-6527
eISSN
1467-937X
DOI
10.2307/2297392
Publisher site
See Article on Publisher Site

Abstract

Abstract When buyers' private information about the value of an item for sale is correlated, the seller can increase expected revenue in a sealed bid auction by making the winner's payment a function of information available after the end of the auction. Specifically, revenue can be increased by making the payment a function of all the losing bids. In addition there are gains to making the payment contingent upon some signal of the object's value which becomes public at a later date. That is, there are gains to introducing positive royalty rates. This content is only available as a PDF. © 1988 The Review of Economic Studies Limited

Journal

The Review of Economic StudiesOxford University Press

Published: Jul 1, 1988

There are no references for this article.