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François Maréchal
''First-price vs second-price auctions under risk aversion and private affiliated values''
( 2011, Vol. 31 No.2 )
Under a specific informational framework, we compare the seller's expected revenue from a first-price auction and a second-price auction when bidders are risk averse and have private affiliated values.
Keywords: auctions, risk aversion, private affiliated values
JEL: D4 - Market Structure and Pricing: General
D8 - Information, Knowledge, and Uncertainty: General
Manuscript Received : May 18 2011 Manuscript Accepted : Jun 16 2011

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