"The Anglo-Dutch Auction"

I analyze discrete-valuation model of the Anglo-Dutch auction with exogenous entry and derive a complete ranking between this auction and its components-the ascending and rst-price auctions. I nd that the Anglo-Dutch auction can revenue-dominate for a small set of parameters, and similarly ranks revenue-last in a small number of cases. For most parameter values the Anglo-Dutch auction ranks as intermediate. I also show that the auction performs particularly well when bidders face small entry costs and almost- common values.