In this paper I first present a new convergence result which will derive an optimal auction mechanism as a limit of standard nonlinear pricing mechanisms. For example, an optimal auction mechanism of Myerson (1981) will be explicitly derived as a limit of nonlinear pricing mechanisms by Mussa...

A seller choosing between auctioning online and live faces a tradeoff: lower transaction costs online against more rents left with the bidders. We model this tradeoff, and apply the theory to auctions of art. The crucial parameter for whether the seller does better online than live is not the...

This paper investigates the asymptotic behavior of a Bayesian Nash equilibrium in uniform price double auctions among buyers and sellers with a unit demand and supply who receive private signals independently and identically distributed conditional on the unknown state with the monotone...