Gale, Ian L; Hausch, Donald B; Stegeman, Mark - In: International Economic Review 41 (2000) 4, pp. 989-1020
Two symmetric sellers are approached sequentially by fragmented buyers. Each buyer conducts a second-price auction and purchases from the seller who offers the lower price. Winning an auction affects bidding for future contracts because the sellers have nonconstant marginal costs. We assume that...