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 language | English |
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Pages (from-to) | 531-534 |
Number of pages | 4 |
Journal | Operations Research Letters |
Volume | 33 |
Issue number | 5 |
DOIs | |
State | Published - Sep 2005 |
Keywords
- Auction theory
- DRHR
- Excess wealth order
- Expected rent
- IFR