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Start Over Descriptor "Selling -- Models" Journal american economic review
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1. Auctions versus posted-price selling

Author

Wang, Ruqu

Subjects
Auctions -- Models, Selling -- Models, Economics -- Models, Business, Economics
Abstract

A private-values model is used to describe the selling techniques of auctions and posted-price selling. Comparisons of the prices of the social optimum and the monopoly seller are provided. The global steepness of the marginal-revenue curve related to the buyer valuation distribution affects the type of sales technique that is used. A uniformly steeper marginal-revenue curve makes auctions more preferable to sellers, even if auctioning is expensive.

Published
1993

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