Error loading page.
Try refreshing the page. If that doesn't work, there may be a network issue, and you can use our self test page to see what's preventing the page from loading.
Learn more about possible network issues or contact support for more help.
Advanced
Title details for Putting Auction Theory to Work by Paul Milgrom - Available

Putting Auction Theory to Work

by Paul Milgrom
ebook
Read a sample Read a sample
This book provides a comprehensive introduction to modern auction theory and its important new applications. It is written by a leading economic theorist whose suggestions guided the creation of the new spectrum auction designs. Aimed at graduate students and professionals in economics, the book gives the most up-to-date treatments of both traditional theories of 'optimal auctions' and newer theories of multi-unit auctions and package auctions, and shows by example how these theories are used. The analysis explores the limitations of prominent older designs, such as the Vickrey auction design, and evaluates the practical responses to those limitations. It explores the tension between the traditional theory of auctions with a fixed set of bidders, in which the seller seeks to squeeze as much revenue as possible from the fixed set, and the theory of auctions with endogenous entry, in which bidder profits must be respected to encourage participation.
Expand title description text
Series: Churchill Lectures in Economics Publisher: Cambridge University Press

Kindle Book

  • Release date: November 30, 2000

OverDrive Read

  • ISBN: 9781107713239
  • File size: 11286 KB
  • Release date: November 30, 2000

EPUB ebook

  • ISBN: 9781107713239
  • File size: 11286 KB
  • Release date: November 30, 2000

Formats

Kindle Book
OverDrive Read
EPUB ebook

subjects

Business Nonfiction

Languages

English

This book provides a comprehensive introduction to modern auction theory and its important new applications. It is written by a leading economic theorist whose suggestions guided the creation of the new spectrum auction designs. Aimed at graduate students and professionals in economics, the book gives the most up-to-date treatments of both traditional theories of 'optimal auctions' and newer theories of multi-unit auctions and package auctions, and shows by example how these theories are used. The analysis explores the limitations of prominent older designs, such as the Vickrey auction design, and evaluates the practical responses to those limitations. It explores the tension between the traditional theory of auctions with a fixed set of bidders, in which the seller seeks to squeeze as much revenue as possible from the fixed set, and the theory of auctions with endogenous entry, in which bidder profits must be respected to encourage participation.
Expand title description text
Business Nonfiction