Auctions with resale and correlated signals

In this paper, we consider auctions with resale when bidders are symmetric and draw correlated signals. We show that the all-pay second-price auction with resale generates the highest expected revenue for the seller among the family of first-price auction, second price auction, all-pay first-price auction, all-pay second-price auction, first-price auction with resale, second-price auction with resale, first-price all-pay auction with resale, and second-price all-pay auction with resale.