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Optimality and the English and Second-Price Auctions with Resale
Games and Economic Behavior , 75, 2, 731-751, 2012
Abstract: In the presence of resale and under more general assumptions than Zheng's (2002), implementation of Myerson's (1981) optimal allocation with two bidders is achieved through the second-price auction. In a special class of asymmetric n-bidder models, it is achieved through the English auction.
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