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Author

Ce Zhang

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Preprint Oct 2026

Payment Design under Belief Disagreement: Rent Placement, Bid Resolution, and Auction Choice

When auction bidders misperceive their rivals, a seller can change not only the amount of information rent but also the states in which it is delivered. We ask when this payment-design opportunity survives a finite bidding interface, nonnegative-payment restrictions, and comparison with conventional auctions under the...

Li-Jian Lu, Ce Zhang · 0 citations

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