Citation
Lce. Cunha et V. Santos, SECONDARY MARKETS IN AUCTIONS WITH ENDOGENOUS VALUATIONS, Economics letters, 48(3-4), 1995, pp. 307-311
Citations number
9
Categorie Soggetti
Economics
Journal title
ISSN journal
01651765
Volume
48
Issue
3-4
Year of publication
1995
Pages
307 - 311
Database
ISI
SICI code
0165-1765(1995)48:3-4<307:SMIAWE>2.0.ZU;2-2
Abstract
Introducing secondary markets in endogenous-valuations auctions can in
crease or decrease the seller's revenue and affect the final allocatio
n. Particularly, it restores Gilbert-Newbery's persistency result. Las
tly, when auctioning licenses, the commodity's nature is also crucial
for the auction's outcome.