A note on expected rent in auction theory

Authors:
Xiaohu Li
Affiliations:
School of Mathematics and Statistics, Lanzhou University, Lanzhou 730000, China
Venue:
Operations Research Letters
Year:
2005

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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.