Abstract
We present a model of multiunit auctions in which some of the units may be sold before the auction (i.e., noncompetitively) at a price to be established by the auction. All potential buyers have similar information and costs. But, at equilibrium, some buy noncompetitively while the remainder bid in the auction, and the seller benefits from allowing noncompetitive sales. Journal of Economic Literature Classification Number: D44.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 54-64 |
| Number of pages | 11 |
| Journal | Games and Economic Behavior |
| Volume | 16 |
| Issue number | 1 |
| DOIs | |
| State | Published - Sep 1996 |
ASJC Scopus subject areas
- Finance
- Economics and Econometrics
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