We consider must-sell auctions with asymmetric buyers. First, we study auctions with two asymmetric buyers, where the distribution of valuations of the strong buyer is stretched relative to that of the weak buyer. Then, it is known that inefficient first-price auctions are more profitable for...

On many online auction sites it is now possible for a seller to augment his auction with a maximum or buy-out price. The use of this instrument has been justified in "one-shot" auctions by appeal to impatience or risk aversion. Here we offer additional justification by observing that trading on...