Comment on: “Auctions with a buy price: The case of reference-dependent preferences” (2011)
Journal Article
Hernando-Veciana, Á. (2012). Comment on: “Auctions with a buy price: The case of reference-dependent preferences”. Games and Economic Behavior, 74(1), 235-239. https://doi.org/10.1016/j.geb.2011.06.008

Second best efficiency and the English auction (2011)
Journal Article
Hernando-Veciana, Á., & Michelucci, F. (2011). Second best efficiency and the English auction. Games and Economic Behavior, 73(2), 496-506. https://doi.org/10.1016/j.geb.2011.04.003

We study the second best in a single unit sale to two bidders. This is the allocation that maximizes the expected social surplus subject to the biddersʼ incentive compatible constraints when the first best is not implementable. We prove that Maskinʼs... Read More about Second best efficiency and the English auction.