values and an ex post equilibrium with interdependent values. If the auction is followed by resale, then truthful bidding … remains an equilibrium in the auction-plus-resale game. In settings where resale exhausts all the gains from trade among the …

resale among bidders after the auction; and (2) the seller can commit to not sell the withheld goods after the auction. We … examine how the optimal auction problem changes when these assumptions are relaxed. In sharp contrast to the no resale … assumption, we assume perfect resale: all gains from trade are exhausted in resale. In a multiple object model with independent …