Putting Auction Theory to Work

Author:   Paul Milgrom (Stanford University)
Publisher:   Not Avail
ISBN:  

9786613329165


Pages:   392
Publication Date:   12 January 2004
Format:   Electronic book text
Availability:   In stock   Availability explained
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Putting Auction Theory to Work


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Overview

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.

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Author:   Paul Milgrom (Stanford University)
Publisher:   Not Avail
Imprint:   Not Avail
ISBN:  

9786613329165


ISBN 10:   6613329169
Pages:   392
Publication Date:   12 January 2004
Audience:   General/trade ,  General
Format:   Electronic book text
Publisher's Status:   Active
Availability:   In stock   Availability explained
We have confirmation that this item is in stock with the supplier. It will be ordered in for you and dispatched immediately.

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