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| François Maréchal |
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| ''First-price vs second-price auctions under risk aversion and private affiliated values'' |
| ( 2011, Vol. 31 No.2 ) |
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| 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. |
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| Keywords: auctions, risk aversion, private affiliated values |
JEL: D4 - Market Structure and Pricing: General
D8 - Information, Knowledge, and Uncertainty: General |
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| Manuscript Received : May 18 2011 | | Manuscript Accepted : Jun 16 2011 |
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