Tan, Xu; Xing, Yiqing - In: Economics Letters 111 (2011) 1, pp. 99-103
This paper shows the existence of monotone pure-strategy equilibrium in auctions with both common-value bidders and private-value ones. In equilibrium, the common-value bidders bid less aggressively when there are more private-value bidders. Further, resale is discussed as an application.