- Date26 September 2023
- Time 11h00 - 12h30
- Room Auditorium 4
Abstract
A royalty system on mineral auctions is common practice in many countries. This selling procedure for state-owned minerals, such as gas or oil, is usually implemented by a second-price auction or an English auction such that the government collects an additional payment from the winner of the auction based on its revenue on the minerals. We show that the optimal selling mechanism with costly verification can be implemented, indeed, by a second-price auction with a reserve price and a royalty payment for the winner.
Other seminars
To be announced
-
Seminar
-
Economic Theory Seminar
-
Date 8 December 2026
-
Place Auditorium 3 - JJ Laffont
-
Speaker or organiser Piotr Dworczak (Northwestern University)
Details
To be announced
-
Seminar
-
Economic Theory Seminar
-
Date 24 November 2026
-
Place Auditorium 5
-
Speaker or organiser Frank Yang (Stanford University)
Details
To be announced
-
Seminar
-
Economic Theory Seminar
-
Date 17 November 2026
-
Place Auditorium 5
-
Speaker or organiser Qianjun Lyu (University Carlos III of Madrid)
Details