This paper, forthcoming in Journal of Economic Surveys, provides an elementary, non-technical, survey of auction theory … a companion book, The Economic Theory of Auctions, Paul Klemperer (ed,), Edward Elgar (pub.), 1999.) We begin with the … most fundamental concepts, and then introduce the basic analysis of optimal auctions, the revenue equivalence theorem, and …

in Seattle in August 2000. We discuss the strong connections between auction theory and standard economic theory, and … argue that auction-theoretic tools and intuitions can provide useful arguments and insights in a broad range of mainstream … economic settings that do not, at first sight, look like auctions. We also discuss some more obvious applications, especially …

picking selectively – an advanced undergraduate or MBA course on auctions and auction design. Part A introduces the basic … superficially unconnected with auctions. Part C discusses practical auction design. Part D describes the one-hundred-billion dollar …This book is a non-technical introduction to auction theory; its practical application in auction design (including …

substitutes. The weaker notion guarantees monotonicity of tatonnement processses and convergence of clock auctions to a pseudo …

We compare the most common methods for selling a company or other asset when participation is costly: a simple … simultaneous auction, and a sequential process in which potential buyers decide in turn whether or not to enter the bidding.  The … auction is more conducive to entry - precisely because of its inefficiency - it usually generates higher expected revenue.  We …

immediate IPO (within a week).  Vendors can use an auction to determine whether the valuation is higher in private equity, trade …

.  Several firms compete in the auction, and consumers differ in their preferences.  Prior to the auction, the platform gathers …

Part ownership of a takeover target can help a bidder win a takeover auction, often at a low price. A bidder with a … toehold bids aggressively in a standard ascending auction because its offers are both bids for the remaining shares and asks … large in a common value auction. When a firm bids more aggressively, its competitors face an increased winners curse and …

We compare the two most common bidding processes for selling a company or other asset when participation is costly to … buyers. In an auction all entry decisions are made prior to any bidding. In a sequential bidding earlier entrants can make … decisions on superior information. But pre-emptive bids transfer surplus from the seller to buyers. Because the auction is more …