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Auction Theory

Auction Theory
  • Author : Vijay Krishna
  • Publisher :Unknown
  • Release Date :2009-09-28
  • Total pages :336
  • ISBN : 9780080922935
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Summary : Vijay Krishna’s 2e of Auction Theory improves upon his 2002 bestseller with a new chapter on package and position auctions as well as end-of-chapter questions and chapter notes. Complete proofs and new material about collusion complement Krishna’s ability to reveal the basic facts of each theory in a style that is clear, concise, and easy to follow. With the addition of a solutions manual and other teaching aids, the 2e continues to serve as the doorway to relevant theory for most students doing empirical work on auctions. Focuses on key auction types and serves as the doorway to relevant theory for those doing empirical work on auctions New chapter on combinatorial auctions and new analyses of theory-informed applications New chapter-ending exercises and problems of varying difficulties support and reinforce key points

Putting Auction Theory to Work

Putting Auction Theory to Work
  • Author : Paul Milgrom,Paul Robert Milgrom
  • Publisher :Unknown
  • Release Date :2004-01-12
  • Total pages :368
  • ISBN : 0521536723
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Summary : Table of contents

An Introduction to Auction Theory

An Introduction to Auction Theory
  • Author : Flavio M. Menezes,Paulo K. Monteiro
  • Publisher :Unknown
  • Release Date :2005
  • Total pages :178
  • ISBN : 019927598X
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Summary : The practical importance of auction theory is widely recognized. This is an introduction to the basic theory of auction that provided the insights for the design of auctions such as the sale of spectrum for mobiles telecommunications and the sale of former government-owned companies around the globe.

Auction Theory for Computer Networks

Auction Theory for Computer Networks
  • Author : Dusit Niyato,Nguyen Cong Luong,Ping Wang,Zhu Han
  • Publisher :Unknown
  • Release Date :2020-06-30
  • Total pages :306
  • ISBN : 9781108480765
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Summary : Acquire the tools to address emerging challenges in modern computer networks with this multidisciplinary review of the fundamentals.

Auctions

Auctions
  • Author : Paul Klemperer
  • Publisher :Unknown
  • Release Date :2018-06-05
  • Total pages :246
  • ISBN : 9780691186290
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Summary : Governments use them to sell everything from oilfields to pollution permits, and to privatize companies; consumers rely on them to buy baseball tickets and hotel rooms, and economic theorists employ them to explain booms and busts. Auctions make up many of the world's most important markets; and this book describes how auction theory has also become an invaluable tool for understanding economics. Auctions: Theory and Practice provides a non-technical introduction to auction theory, and emphasises its practical application. Although there are many extremely successful auction markets, there have also been some notable fiascos, and Klemperer provides many examples. He discusses the successes and failures of the one-hundred-billion dollar "third-generation" mobile-phone license auctions; he, jointly with Ken Binmore, designed the first of these. Klemperer also demonstrates the surprising power of auction theory to explain seemingly unconnected issues such as the intensity of different forms of industrial competition, the costs of litigation, and even stock trading 'frenzies' and financial crashes. Engagingly written, the book makes the subject exciting not only to economics students but to anyone interested in auctions and their role in economics.

Auction Theory

Auction Theory
  • Author : Roberto Burguet
  • Publisher :Unknown
  • Release Date :1998
  • Total pages :50
  • ISBN : UCSD:31822032284085
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Summary :

Auction Theory

Auction Theory
  • Author : Source Wikipedia
  • Publisher :Unknown
  • Release Date :2013-09
  • Total pages :30
  • ISBN : 1230533990
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Summary : Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 28. Chapters: All-pay auction, Bid-to-cover ratio, Bidding function, Chinese auction, Combinatorial auction, Counterspeculation, Auctions, and Competitive Sealed Tenders, Double auction, Dutch auction, English auction, First-price sealed-bid auction, Generalized second-price auction, Japanese auction, Online auction, Revenue equivalence, Reverse auction, Uniform price auction, Unique bid auction, Vickrey auction, Walrasian auction, Winner's curse. Excerpt: An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder. In economic theory, an auction may refer to any mechanism or set of trading rules for exchange. Auction Room, Christie's, circa 1808 Artemis, Ancient Greek marble sculpture. In 2007, a Roman-era bronze sculpture of "Artemis and the Stag" was sold at Sotheby's in New York for US$28.6 million, by far exceeding its estimates and at the time setting the new record as the most expensive sculpture as well as work from antiquity ever sold at auction. An 18th century Chinese meiping porcelain vase. Porcelain has long been a staple at art sales. In 2005, a 14th century Chinese porcelain piece was sold by the Christie's for 16 million, or US$28 million. It set a world auction record for any ceramic work of art.The word "auction" is derived from the Latin auge which means "I increase" or "I augment." For most of history, auctions have been a relatively uncommon way to negotiate the exchange of goods and commodities. In practice, both haggling and sale by set-price have been significantly more common. Indeed, before the seventeenth century the few auctions that were held were sporadic and infrequent. Nonetheless, auctions have a long history, having been recorded as early as 500 B.C. According to Herodotus, in Babylon auctions of...

A Primer on Auction Design, Management, and Strategy

A Primer on Auction Design, Management, and Strategy
  • Author : David J. Salant
  • Publisher :Unknown
  • Release Date :2014-12-26
  • Total pages :200
  • ISBN : 9780262028264
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Summary : Auctions are highly structured market transactions primarily used in thin markets (markets with few participants and infrequent transactions). In auctions, unlike most other markets, offers and counteroffers are typically made within a structure defined by a set of rigid and comprehensive rules. Because auctions are essentially complex negotiations that occur within a fully defined and rigid set of rules, they can be analyzed by game theoretic models more accurately and completely than can most other types of market transactions.This book offers a guide for modeling, analyzing, and predicting the outcomes of auctions, focusing on the application of game theory and auction theory to real-world auction design and decision making. After a brief introduction to fundamental concepts from game theory, the book explains some of the more significant results from the auction theory literature, including the revenue (or payoff) equivalence theorem, the winner's curse, and optimal auction design. Chapters on auction practice follow, addressing collusion, competition, information disclosure, and other basic principles of auction management, with some discussion of auction experiments and simulations. Finally, the book covers auction experience, with most of the discussion centered on energy and telecommunications auctions, which have become the proving ground for many new auction designs. A clear and concise introduction to auctions, auction design, and auction strategy, this Primer will be an essential resource for students, researchers, and practitioners.

Game Theory in Wireless and Communication Networks

Game Theory in Wireless and Communication Networks
  • Author : Zhu Han
  • Publisher :Unknown
  • Release Date :2012
  • Total pages :535
  • ISBN : 9780521196963
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Summary : This unified 2001 treatment of game theory focuses on finding state-of-the-art solutions to issues surrounding the next generation of wireless and communications networks. The key results and tools of game theory are covered, as are various real-world technologies and a wide range of techniques for modeling, design and analysis.

Discovering Prices

Discovering Prices
  • Author : Paul Milgrom
  • Publisher :Unknown
  • Release Date :2017-05-23
  • Total pages :224
  • ISBN : 9780231544573
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Summary : Traditional economic theory studies idealized markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smith’s famous concept of an invisible hand, which guides markets and renders regulation or interference largely unnecessary. Yet for many markets, prices alone are not enough to guide feasible and efficient outcomes, and regulation alone is not enough, either. Consider air traffic control at major airports. While prices could encourage airlines to take off and land at less congested times, prices alone do just part of the job; an air traffic control system is still indispensable to avoid disastrous consequences. With just an air traffic controller, however, limited resources can be wasted or poorly used. What’s needed in this and many other real-world cases is an auction system that can effectively reveal prices while still maintaining enough direct control to ensure that complex constraints are satisfied. In Discovering Prices, Paul Milgrom—the world’s most frequently cited academic expert on auction design—describes how auctions can be used to discover prices and guide efficient resource allocations, even when resources are diverse, constraints are critical, and market-clearing prices may not even exist. Economists have long understood that externalities and market power both necessitate market organization. In this book, Milgrom introduces complex constraints as another reason for market design. Both lively and technical, Milgrom roots his new theories in real-world examples (including the ambitious U.S. incentive auction of radio frequencies, whose design he led) and provides economists with crucial new tools for dealing with the world’s growing complex resource-allocation problems.

Auction Theory

Auction Theory
  • Author : Pak-Sing Choi,Felix Munoz-Garcia
  • Publisher :Unknown
  • Release Date :2021-07-10
  • Total pages :290
  • ISBN : 3030695743
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Summary : 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-theoretic tools, so students can apply similar tools to other auction formats. Also included are several exercises based on published articles, with the model reduced to its main elements and the question divided into several easy-to-answer parts. Little mathematical background in algebra and calculus is assumed, and most algebraic steps and simplifications are provided, making the text ideal for upper undergraduate and graduate students. The book begins with a discussion of second-price auctions, which can be studied without using calculus, and works through progressively more complicated auction scenarios: first-price auctions, all-pay auctions, third-price auctions, the Revenue Equivalence principle, common-value auctions, multi-unit auctions, and procurement auctions. Exercises in each chapter are ranked according to their difficulty, with a letter (A-C) next to the exercise title, which allows students to pace their studies accordingly. The authors also offer a list of suggested exercises for each chapter, for instructors teaching at varying levels: undergraduate, Masters, Ph.D. Providing a practical, customizable approach to auction theory, this textbook is appropriate for students of economics, finance, and business administration. This book may also be used for related classes such as game theory, market design, economics of information, contract theory, or topics in microeconomics.

Game Theory Bargaining and Auction Strategies

Game Theory Bargaining and Auction Strategies
  • Author : Gregor Berz
  • Publisher :Unknown
  • Release Date :2016-04-30
  • Total pages :193
  • ISBN : 9781137475428
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Summary : This text bridges the gulf between theoretical economic principles of negotiation and auction theory and their multifaceted applications in actual practice. It is intended to be a supplement to the already existing literature, as a comprehensive collection of reports detailing experiences and results of very different negotiations and auctions.

Combinatorial Auctions

Combinatorial Auctions
  • Author : Peter Cramton,Yoav Shoham,Richard Steinberg
  • Publisher :Unknown
  • Release Date :2010
  • Total pages :649
  • ISBN : 0262514133
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Summary : A synthesis of theoretical and practical research on combinatorial auctions from the perspectives of economics, operations research, and computer science.

Auctions

Auctions
  • Author : Timothy P. Hubbard,Harry J. Paarsch
  • Publisher :Unknown
  • Release Date :2016-01-13
  • Total pages :264
  • ISBN : 9780262334730
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Summary : How auctions work, in theory and practice, with clear explanations and real-world examples that range from government procurement to eBay. Although it is among the oldest of market institutions, the auction is ubiquitous in today's economy, used for everything from government procurement to selling advertising on the Internet to course assignment at MIT's Sloan School. And yet beyond the small number of economists who specialize in the subject, few people understand how auctions really work. This concise, accessible, and engaging book explains both the theory and the practice of auctions. It describes the main auction formats and pricing rules, develops a simple model to explain bidder behavior, and provides a range of real-world examples. The authors explain what constitutes an auction and how auctions can be modeled as games of asymmetric information—that is, games in which some players know something that other players do not. They characterize behavior in these strategic situations and maintain a focus on the real world by illustrating their discussions with examples that include not just auctions held by eBay and Sotheby's, but those used by Google, the U.S. Treasury, TaskRabbit, and charities. Readers will begin to understand how economists model auctions and how the rules of the auction shape bidder incentives. They will appreciate the role auctions play in our modern economy and understand why these selling mechanisms are so resilient.

Networks, Crowds, and Markets

Networks, Crowds, and Markets
  • Author : David Easley,Jon Kleinberg
  • Publisher :Unknown
  • Release Date :2010-07-19
  • Total pages :229
  • ISBN : 1139490303
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Summary : Are all film stars linked to Kevin Bacon? Why do the stock markets rise and fall sharply on the strength of a vague rumour? How does gossip spread so quickly? Are we all related through six degrees of separation? There is a growing awareness of the complex networks that pervade modern society. We see them in the rapid growth of the Internet, the ease of global communication, the swift spread of news and information, and in the way epidemics and financial crises develop with startling speed and intensity. This introductory book on the new science of networks takes an interdisciplinary approach, using economics, sociology, computing, information science and applied mathematics to address fundamental questions about the links that connect us, and the ways that our decisions can have consequences for others.

Understanding Auctions

Understanding Auctions
  • Author : Srobonti Chattopadhyay,Rittwik Chatterjee
  • Publisher :Unknown
  • Release Date :2019-07-03
  • Total pages :94
  • ISBN : 9781351271066
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Summary : The book elaborates the basic principles of Auction Theory in a non-technical language so as to make them easily accessible to even those not trained in the discipline. Auctions as allocation mechanisms have been in use across the world since antiquity and are still employed in different countries for purchase and sales of a wide range of objects, both by governments and by private agents. Auction has gained popularity over other allocation mechanisms since the rules of auctions are very precise, involve much less subjective judgements compared to other alternative allocation mechanisms and lead to a more efficient process of discovering the true willingness of the buyers to pay. Moreover, the principles of Auction Theory are used in other contexts, for example in designing contests, or in controlling emission levels through allocation of permits and licenses.

The Economic Theory of Auctions

The Economic Theory of Auctions
  • Author : Paul Klemperer
  • Publisher :Unknown
  • Release Date :2000
  • Total pages :692
  • ISBN : UCSD:31822029886488
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Summary : This two-volume set collects critical papers in the economic theory of auctions. Klemperer (economics, Oxford U.) starts with an introduction that summarizes the most basic concepts of auction theory. Next, 31 papers discuss early literature; introduction to the recent literature; the basic analysis of optimal auctions, revenue, equivalence, and marginal revenues; risk aversion; correlation and affiliation; asymmetries; entry costs and the number of bidders; and collusion. In Volume II, 27 papers cover multiunit auctions; royalties, incentive, contracts and payments for quality; double auctions, etc.; other topics (budget constraints, externalities between bidders, jump bidding, war of attrition, and competing auctioneers); and testing the theory. The set lacks a subject index. Annotation copyrighted by Book News, Inc., Portland, OR

Auction Theory

Auction Theory
  • Author : Paul Klemperer
  • Publisher :Unknown
  • Release Date :1999
  • Total pages :88
  • ISBN : OCLC:42019026
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Summary :

Handbook of Spectrum Auction Design

Handbook of Spectrum Auction Design
  • Author : Martin Bichler,Jacob K. Goeree
  • Publisher :Unknown
  • Release Date :2017-10-26
  • Total pages :904
  • ISBN : 9781107135345
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Summary : Following the successful PCS Auction conducted by the US Federal Communications Commission in 1994, auctions have replaced traditional ways of allocating valuable radio spectrum, a key resource for any mobile telecommunications operator. Spectrum auctions have raised billions of dollars worldwide and have become a role model for market-based approaches in the public and private sectors. The design of spectrum auctions is a central application of game theory and auction theory due to its importance in industry and the theoretical challenges it presents. Several auction formats have been developed with different properties addressing fundamental questions about efficiently selling multiple objects to a group of buyers. This comprehensive handbook features classic papers and new contributions by international experts on all aspects of spectrum auction design, including pros and cons of different auctions and lessons learned from theory, experiments, and the field, providing a valuable resource for regulators, telecommunications professionals, consultants, and researchers.

Auction Based Resource Provisioning in Cloud Computing

Auction Based Resource Provisioning in Cloud Computing
  • Author : Gaurav Baranwal,Dinesh Kumar,Zahid Raza,Deo Prakash Vidyarthi
  • Publisher :Unknown
  • Release Date :2018-08-02
  • Total pages :113
  • ISBN : 9789811087370
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Summary : The book, while introducing readers to the auction mechanism for resource provisioning in cloud computing, also endeavors to provide structured literature on the subject. Since various models have been proposed, it will help readers to formulate the cloud resource provisioning problem using the auction approach. The book also discusses challenges for resource provisioning in detail, helping to shape future research. The target audience for this book includes computer scientists, economists, industry professionals, research scholars, and postgraduate students. Computer science readers of this book will come to see that economics-based method are quite helpful in computer science, especially for resource provisioning. Readers with a cloud computing background will come to recognize the importance of dynamic pricing, the specific benefits of auctions, and how to formulate auctions for cloud computing. Lastly, readers from the economics community will come to understand their role in cloud computing, as well as where and how they can contribute.

Why Every Economist Should Learn Some Auction Theory

Why Every Economist Should Learn Some Auction Theory
  • Author : Paul Klemperer
  • Publisher :Unknown
  • Release Date :2000
  • Total pages :48
  • ISBN : UVA:X006113202
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Summary : Lecture from the 8th World Congress of the Econometric Society 2000.