What is the most profitable way to sell ? Evidences from research
Auctions are commonly used in many different situations (art, fish, flowers, etc). But at the same time, many products are sold through posted prices or negotiations. In the joint article with Dan Bernhardt and Tingjun Liu, published in Journal of Economic Theory, we identified the "value discovery" as the merit and the "participation cost" as the demerit of auctions in order to study the most profitable way to sell.
