Timothy C. Salmon

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Traditional auction theory assumes that bidders possess values defined solely on the auctioned object. There may, however, be cases in which bidders possess preferences over the revenue achieved by the auctioneer. We present here a comprehensive framework of price preference valuations, unifying several phenomenon ranging from preference for charitable(More)
The conventional wisdom in the auction design literature is that first price sealed bid auctions tend to make more money while ascending auctions tend to be more efficient. We reexamine these issues in an environment in which bidders are allowed to endogenously choose in which auction format to participate. Our findings are that more bidders choose to enter(More)
When conducting electronic auctions, sellers obviously wish to maximize their revenue and one tool economic theory suggests they might use is an entry fee. By charging bidders a certain amount for entering an auction, the seller can theoretically extract more surplus from those bidders that choose to enter the auction. The problem a seller faces is that the(More)
Most prior theoretical and experimental work involving auction choice has assumed bidders …nd out their value after making a choice of which auction to enter. We examine whether or not bidders knowing their value prior to making a choice of which among multiple alternative auction formats to enter impacts their choice decision and/or the outcome of the(More)