We characterize revenue maximizing mechanisms in a common value environment where the value of the object is equal to the highest of bidders' independent signals. The optimal mechanism exhibits either neutral selection, wherein the object is randomly allocated at a price that all bidders are...

Foreword -- Introduction -- Robust mechanism design -- Ex post implementation -- Robust implementation in direct mechanisms -- Robust implementation in general mechanisms -- The role of the common prior in robust implementation -- An ascending auction for interdependent values : uniqueness and...