Ex Post Information in Auctions
当买家对拍卖品价值的私人信息相关时，卖方可通过将赢家付款与拍卖结束后的信息（如所有未中标出价或后续公开的价值信号）挂钩，提高密封投标拍卖的预期收入。
When buyers' private information about the value of an item for sale is correlated, the seller can increase expected revenue in a sealed bid auction by making the winner's payment a function of information available after the end of the auction. Specifically, revenue can be increased by making the payment a function of all the losing bids. In addition there are gains to making the payment contingent upon some signal of the object's value which becomes public at a later date. That is, there are gains to introducing positive royalty rates.