简介:InthispaperwereanalyzeSaid’s(2011)workbyretainingallhisassumptionsexceptthatweusethefirst-priceauctiontoselldifferentiatedgoodstobuyersindynamicmarketsinsteadofthesecond-priceauction.Weconcludethatexceptfortheexpressionoftheequilibriumbiddingstrategy,alltheresultsforthefirst-priceauctionareexactlythesameasthecorrespondingonesforthesecond-priceauctionestablishedbySaid(2011).Thisimpliesthatthewell-known'revenueequivalencetheorem'holdstrueforSaid’s(2011)dynamicmodelsetting.