Not the same thing, surely? Submitting an N-1 bid causes the top bidder to pay effectively their bid… in effect turning a second-bid auction into an English auction as defined above. Setting a reserve price sets a floor that has no relationship to the top bidder’s bid.
But sure, the fact that you didn’t set a reserve price also suggests that you wouldn’t take advantage of this loophole in your counterfactual second-bid auction.
Not the same thing, surely? Submitting an N-1 bid causes the top bidder to pay effectively their bid… in effect turning a second-bid auction into an English auction as defined above. Setting a reserve price sets a floor that has no relationship to the top bidder’s bid.
But sure, the fact that you didn’t set a reserve price also suggests that you wouldn’t take advantage of this loophole in your counterfactual second-bid auction.