If agents engage in resale, it changes bidding in the initial auction. Resale offers extra incentives for bidders with lower valuations to win the auction. However, if resale markets are not frictionless, then use values affect bidding incentives, and stronger bidders still win the initial auction more often than weaker ones. I consider a first price auction followed by a resale market with fri...

We examine the impacts of resale opportunity on entry and bidding strategies in simultaneous bidding process (auction mechanism) and sequential bidding process (sequential mechanism) with costly entry, and relative performance between the two mechanisms. Resale opportunity reinforces the partial-pooling equilibrium that a bidder submits a jump bid (even higher than his value) to deter following...

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IPSJ (Information Processing Society of Japan), which was launched in 1960, formed the Computer History Committee in 1970 in order to record the early history of Japanese computers. The Committee has continued its activities, publishing history related books, maintaining the Virtual Computer Museum web pages, editing articles about old computers and technologies, etc. Recently, it started anoth...