Sealed high-bid auctions outperform open auctions, maximizing seller revenue.
Sealed high-bid auctions generate higher revenue for sellers than open auctions, even with different numbers of buyers. The linear auction model is useful for both linear and non-linear models. Data from U.S. forest timber auctions show a minimal revenue difference with a fixed number of participants, but up to a 14% difference when accounting for varying participation. The predicted revenue gap aligns closely with actual results from previous research.