Bidding to lose? Auctions with resale
分析在拍卖后允许转售的情况下，强势竞拍者为何可能故意输掉拍卖，以便在后续议价中获利，并探讨这一行为对卖家收入和弱势竞拍者参与的影响。
A losing bidder can still purchase the prize from the winner after the auction. We show why a strong bidder may prefer to drop out of the auction before the price has reached her valuation and acquire the prize in the aftermarket: a strong bidder may be in a better bargaining position in the aftermarket if her rival won at a relatively low price. So it can be common knowledge that, in equilibrium, a weak bidder will win the auction and, even without uncertainty about relative valuations, resale will take place. The possibility of reselling to a strong bidder attracts weak bidders to participate in the auction and raises the seller's revenue.