This textbook provides a short introduction to auction theory through exercises with detailed answer keys. Focusing on … practical examples, this textbook offers over 80 exercises that predict bidders’ equilibrium behaviour in different auction … formats, along with the seller’s strategic incentives to organize one auction format over the other. The book emphasizes game …

interests that played a deci- sive role in the establishment of the auction mechanism. The article provides an analysis of the … formal and informal rules of the auction trade for real estate and argues that 19 th century real estate auctions did not … than auction theory assumes. …