The Econometric SocietyEconometrica: Nov 1984, Volume 52, Issue 6
Optimal Auctions with Risk Averse Buyers
https://doi.org/0012-9682(198411)52:6<1473:OAWRAB>2.0.CO;2-0
p.
1473-1518
Eric Maskin, John Riley
We characterize a seller's optimal scheme for the sale of an indivisible good to one of n risk averse buyers. We also compare certain commonly used schemes, such as the high bid and second bid auctions, under the hypothesis of risk aversion.Log In To View Full Content