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      Resale in Auctions with Financial Constraints 

      De Frutos, María Ángeles; Espinosa Alejos, María Paz (University of the Basque Country, Department of Foundations of Economic Analysis II, 2012)
      This paper analyzes auctions where bidders face nancial constraints that may force them to resell part of the property of the good (or subcontract part of a project) at a resale market. First we show that the ine¢ cient ...