Research of Revenue Equivalence of Four Kinds of Auctions
四类拍卖的收益等价性研究

Summarization,research,and discussion of four kinds of auction forms are executed under the framework of the revenue equivalence and it applications.Based on the deductions and applications of the Revenue Equivalence Theorem under the SIPV assumption,expected revenue and expected payment of the four kinds of auctions are confirmed to be equivalent,and the equilibrium bidding strategy of the second-price all-pay auction is derived.Then the equilibrium bids of the four kinds of auctions are ranked and explained.Additionally,under signal-affiliated assumption the expected revenue of the four kinds of auctions are ranked and explained.It is concluded that different informational environment settings are crucial to the different results of revenue equivalence of auction forms and lead to different explanation abilities of auction models under different assumptions.Finally,new developments of revenue equivalence of auctions are reviewed and prospected.