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Persistent link: https://www.econbiz.de/10011645947
I study the canonical private value auction model for a single good without the quasilinearity restriction. I assume only that bidders are risk averse and the indivisible good for sale is a normal good. I show that removing quasilinearity leads to qualitatively different solutions to the auction...
Persistent link: https://www.econbiz.de/10012010063
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