References (27)


Citations (33)



Auctions with Private Uncertainty and Resale Opportunities

Philip A. Haile

Yale University - Department of Economics; National Bureau of Economic Research (NBER)

December 1997


This paper studies auctions held before bidders are sure of the values they place on the object for sale, leaving potential gains to subsequent resale trade. While important insights from models of auctions without resale carry over, equilibrium bidding can be fundamentally altered by the endogeneity of valuations and the informational linkages between primary and secondary markets. As a result, models ignoring resale may often misguide policy and interpretation of bidding data. Furthermore, results regarding players' incentives to signal through their bids, the effects of resale on auction revenues, an d revenue comparisons between standard auctions depend on the structure of the secondary market.

Number of Pages in PDF File: 47

JEL Classification: D44, D89

Open PDF in Browser Download This Paper

Date posted: February 20, 1998  

Suggested Citation

Haile, Philip A., Auctions with Private Uncertainty and Resale Opportunities (December 1997). 9801. Available at SSRN: http://ssrn.com/abstract=60768 or http://dx.doi.org/10.2139/ssrn.60768

Contact Information

Philip A. Haile (Contact Author)
Yale University - Department of Economics ( email )
28 Hillhouse Ave
New Haven, CT 06520-8264
United States
203-432-3568 (Phone)
203-432-6323 (Fax)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Feedback to SSRN

Paper statistics
Abstract Views: 832
Downloads: 168
Download Rank: 123,953
References:  27
Citations:  33

© 2016 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollobot1 in 2.187 seconds