New Study Shows Second-Price Auctions Yield Higher Revenue Than First-Price
The article compares different types of auctions to see which one makes more money. They looked at auctions where bidders have secret values for the items being sold. They found that in certain cases, the second-price auction brings in more money than the first-price auction. This has important implications for big auctions, showing that they can make the same amount of money even if they use different auction types.