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In this chapter, we evaluate the seller’s expected revenue in different auction formats and show under which contexts this revenue is equivalent. First, Exercise 6.1 considers the first-price, second-price, third-price, and all-pay auctions from the previous chapters, evaluating the expected revenue that each of them generate, and showing that the expected revenue coincides.

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The Revenue Equivalence Principle

  • 章节

  • 发表日期：

    2025年

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  • Pak-Sing Choi,
  • Felix Munoz-Garcia

摘要

In this chapter, we evaluate the seller’s expected revenue in different auction formats and show under which contexts this revenue is equivalent. First, Exercise 6.1 considers the first-price, second-price, third-price, and all-pay auctions from the previous chapters, evaluating the expected revenue that each of them generate, and showing that the expected revenue coincides.