HIGHLIGHTS
- who: Zhonghao Shui from the School of Economics, Hubei Business College, Xiongchu Street, Hongshan District, Wuhan, Hubei, China have published the article: Rejection prices and an auctioneer with non-monotonic utility, in the Journal: (JOURNAL)
- what: The authors show that the optimal price for such an auctioneer is lower than and equal to that maximizer in first-price and second-price sealedbid auctions respectively. In each the authors characterize a necessary and sufficient condition that by using the optimal price not only the auctioneer but also bidders can be better off compared to a standard . . .
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