Waehrer, Keith; Harstad, Ronald M.; Rothkopf, Michael H. - In: RAND Journal of Economics 29 (1998) 1, pp. 179-192
We analyze the preferences of a risk-averse seller over the class of "standard" auctions with symmetric and risk-neutral bidders. Assuming that buyers' private signals are independently distributed, we find that a sealed-bid first-price auction with an appropriately set reserve price is...