Browsing Department of Economics (MU) by Title "Does a Seller Really Want Another Bidder?"
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Does a Seller Really Want Another Bidder?
(Department of Economics, 2007)Jeremy I. Bulow and Paul D. Klemperer (AER, 1996) argue that the usual concerns of auction design miss the big picture, and show that a simple English auction without a reserve price and N + 1 bidders attains expected ...