Title of article :
Optimal auction with financially constrained buyers
Author/Authors :
Laffont، نويسنده , , Jean-Jacques; Robert، نويسنده , , Jacques ، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 1996
Abstract :
We characterize the optimal auction when bidders have (common knowledge) financial constraints. The optimal auction can be implemented by an all-pay auction with the proper reserve price.
Keywords :
Optimal auction , All-pay auction
Journal title :
Economics Letters
Journal title :
Economics Letters
