Distributionally robust pricing in independent private value auctions

A seller chooses a reserve price in second-price auction to maximize worst-case expected revenue when she knows only the mean of value distribution and an upper bound on either values themselves or variance. Values are private iid. Using indirect technique, we prove that it is always optimal set seller's own valuation. However, maxmin may not be unique. Sometimes choose deterministic even randomization allowed, which unusual for settings. with equal asymptotically mechanism (among all ex post individually rational mechanisms) as number bidders grows without bound.