Wasser, Cédric - In: Games and Economic Behavior 82 (2013) C, pp. 350-368
We study a sealed-bid auction between two bidders with asymmetric independent private values. The two bidders own asymmetric shares in a partnership. The higher bidder buys the lower bidderʼs shares at a per-unit price that is a convex combination of the two bids. The weight of the lower bid is...