skip to main content
US FlagAn official website of the United States government
dot gov icon
Official websites use .gov
A .gov website belongs to an official government organization in the United States.
https lock icon
Secure .gov websites use HTTPS
A lock ( lock ) or https:// means you've safely connected to the .gov website. Share sensitive information only on official, secure websites.

Explore Research Products in the PAR
It may take a few hours for recently added research products to appear in PAR search results.


  • Home
  • Search Results
  • Page 1 of 1

Search for: All records

Creators/Authors contains: "Mierendorff, Konrad"

Note: When clicking on a Digital Object Identifier (DOI) number, you will be taken to an external site maintained by the publisher. Some full text articles may not yet be available without a charge during the embargo (administrative interval).
What is a DOI Number?

Some links on this page may take you to non-federal websites. Their policies may differ from this site.

  1. ; ; (, SSRN Electronic Journal)
    We study stationary equilibria in a sequential auction setting. A seller runs a sequence of standard first-price or second-price auctions to sell an indivisible object to potential buyers. The seller can commit to the rule of the auction and the reserve price of the current period but not to reserve prices of future periods. We prove the existence of stationary equilibria and establish a uniform Coase conjecture—at any point in time and in any stationary equilibrium, the seller’s profit from running sequential auctions converges to the profit of running an efficient auction as the period length goes to zero. 
    more » « less
    Full Text Available 
  2. ; ; (, Journal of Political Economy)
    Full Text Available 
  3. ; ; ; (, American Economic Review)
    null (Ed.)
    We study the role of limited commitment in a standard auction environment. In each period, the seller can commit to an auction with a reserve price but not to future reserve prices. We characterize the set of equilibrium profits attainable for the seller as the period length vanishes. An immediate sale by efficient auction is optimal when there are at least three buyers. For many natural distributions two buyers is enough. Otherwise, we give conditions under which the maximal profit is attained through continuously declining reserve prices. (JEL D44, D82) 
    more » « less
    Full Text Available