When Should Sellers Use Auctions?
研究了当进入成本高且买家价值不同时，顺序报价机制相比同时报价拍卖能提高买卖双方收益，并用美国林业拍卖数据验证了顺序机制可增加收入与效率。
A bidding process can be organized so that offers are submitted simultaneously or sequentially. In the latter case, potential buyers can condition their behavior on previous entrants' decisions. The relative performance of these mechanisms is investigated when entry is costly and selective, meaning that potential buyers with higher values are more likely to participate. A simple sequential mechanism can give both buyers and sellers significantly higher payoffs than the commonly used simultaneous bid auction. The findings are illustrated with parameters estimated from simultaneous entry USFS timber auctions where our estimates predict that the sequential mechanism would increase revenue and efficiency.