Auctions with Resale When Private Values Are Uncertain: Evidence from the Lab and Field
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This paper is a significantly revised version of NBER Working Paper No. 10639: Auctions with Resale When Private Values Are Uncertain: Theory and Empirical Evidence. Larry Ausubel, Peter Cramton, Glenn Harrison, Liesl Koch, and Tigran Melkonyan provided useful suggestions on an earlier version of this study and during the discovery process. Seminar participants at several universities provided comments that improved the manuscript. Andreas Lange gratefully acknowledges funding by the Deutsche Forschungsgemeinschaft (DFG) under grant LA 1333/2-1. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.