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The Revenue Equivalence Principle

In: Auction Theory

Author

Listed:
  • Pak-Sing Choi

    (National Central University)

  • Felix Munoz-Garcia

    (Washington State University)

Abstract

In this chapter, we evaluate the seller’s expected revenue in different auction formats and show under which contexts this revenue is equivalent. First, Exercise 6.1 considers the first-price, second-price, third-price, and all-pay auctions from the previous chapters, evaluating the expected revenue that each of them generate, and showing that the expected revenue coincides.

Suggested Citation

  • Pak-Sing Choi & Felix Munoz-Garcia, 2021. "The Revenue Equivalence Principle," Springer Texts in Business and Economics, in: Auction Theory, chapter 6, pages 187-204, Springer.
    • Handle: RePEc:spr:sptchp:978-3-030-69575-0_6
    DOI: 10.1007/978-3-030-69575-0_6
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