A note on expected rent in auction theory

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Abstract

The expected rent in a reverse (buyer's) auction is shown to be monotonically nonincreasing in the number of bidders if the distribution of valuations is DRHR (IFR). Conditions under which an increase in the spread of bids results in an increase in the expected rent are established as well. All rights reserved.

Original languageEnglish
Pages (from-to)531-534
Number of pages4
JournalOperations Research Letters
Volume33
Issue number5
DOIs
StatePublished - Sep 2005

Keywords

  • Auction theory
  • DRHR
  • Excess wealth order
  • Expected rent
  • IFR

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