On Some Myths about Sequenced Common-Value Auctions
构建了序列第二价格拍卖的博弈模型，发现均衡价格可能平均下降，且卖方公开已知信息可能平均受损，这些结果出乎意料。
Equilibria are constructed for classes of game models of sequenced second-price auctions having identical common-valued objects. In some of these the equilibrium price falls on average, and in others the seller loses on average by committing to announce publicly something that he knows. Both of these possibilities are surprises.Journal of Economic LiteratureClassification Number: D44.