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Zheng’s Optimal Mechanism with Resale and the Second-Price Auction

We show that Zheng (2002)’s optimal mechanism in the presence of resale can be interpreted as an equilibrium of an ascending-price auction and, in the two-bidder case, as an equilibrium with a no-regret property of the English and second-price auctions. We also show that it can be extended beyond Zheng (2002)’s original assumptions