A short proof of the Bulow-Klemperer auctions vs. negotiations result
Bulow and Klemperer  have provided an upper bound on the value of bargaining power for a seller of an indivisible object. Specifically, negotiating optimally with N buyers yields lower revenue than an English auction with N + 1 buyers. In this paper, a short and intuitive proof of this result is presented.
Keywords and Phrases:Auctions Negotiations Rationing.
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