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 …

the strong connections between auction theory and "standard" economic theory, and argue that auction-theoretic tools and …, look like auctions. We also discuss some more obvious applications, especially to industrial organization. …

The asymmetry or counter-cyclical nature and its influence on the persistence of the number of registered unemployed is …

We investigate the outcome of an auction where the auctioneer approaches one of the two existing bidders and offers an … possibility of matching the winner's bid in exchange for a bribe. While oral auctions are corruption free under the two … arrangements, corruption affects both bidding behavior, efficiency and the seller's expected revenue in a first-price auction. …

Auctions play an important role in economics. In their most basic form, they are one of the ways in which various …-oriented setting. An auction is a market institution with an explicit set of rules determining resource allocation and prices on the …, auctions provide one way approaching the question of price formation of these products.This paper explores the details of …

In this paper, we study an auction where bidders only know the number of potential applicants. After seeing their … values for the object, bidders decide whether or not to enter the auction. Players may not want to enter the auction since … sealed-bid auction when participation is endogenous. We show that only bidders with values greater than a certain cut …