Adjustable supply in uniform price auctions: Non-commitment as a strategic tool
In some uniform-price auctions, the auctioneer decides how much to sell after the bidding. Auctioneer expected profit and social welfare can each be strictly higher in all equilibria given such "adjustable supply" than in all equilibria given any fixed quantity and reserve price. © 2006 Elsevier B.V. All rights reserved.
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