Putting Auction Theory to Work

Putting Auction Theory to Work
Author: Paul Milgrom
Publisher: Cambridge University Press
Total Pages: 378
Release: 2004-01-12
Genre: Business & Economics
ISBN: 1139449168

This book provides a comprehensive introduction to modern auction theory and its important new applications. It is written by a leading economic theorist whose suggestions guided the creation of the new spectrum auction designs. Aimed at graduate students and professionals in economics, the book gives the most up-to-date treatments of both traditional theories of 'optimal auctions' and newer theories of multi-unit auctions and package auctions, and shows by example how these theories are used. The analysis explores the limitations of prominent older designs, such as the Vickrey auction design, and evaluates the practical responses to those limitations. It explores the tension between the traditional theory of auctions with a fixed set of bidders, in which the seller seeks to squeeze as much revenue as possible from the fixed set, and the theory of auctions with endogenous entry, in which bidder profits must be respected to encourage participation.

Treasury Bill Auctions

Treasury Bill Auctions
Author: Mr.Carlo Cottarelli
Publisher: International Monetary Fund
Total Pages: 70
Release: 1994-11-01
Genre: Business & Economics
ISBN: 1451855648

We review the main issues that arise in the design of treasury bill auctions and survey the relevant empirical literature. We also provide a detailed description of the actual design of these auctions in a sample of 42 industrial and developing countries.

Auctions

Auctions
Author: Paul Klemperer
Publisher: Princeton University Press
Total Pages: 262
Release: 2004-03-28
Genre: Business & Economics
ISBN: 0691119252

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.

Electricity Auctions

Electricity Auctions
Author: Luiz Maurer
Publisher: World Bank Publications
Total Pages: 181
Release: 2011-07-25
Genre: Business & Economics
ISBN: 082138824X

Electricity-contract auctions have been getting increased attention as they have emerged as a successful mechanism to procure new generation capacity and. This book presents a comprehensive overview of international experiences in auction design and implementation.

Combinatorial Auctions

Combinatorial Auctions
Author: Peter C. Cramton
Publisher: MIT Press (MA)
Total Pages: 678
Release: 2006
Genre: Business & Economics
ISBN:

A synthesis of theoretical and practical research on combinatorial auctions from the perspectives of economics, operations research, and computer science.

Game Theory, Alive

Game Theory, Alive
Author: Anna R. Karlin
Publisher: American Mathematical Soc.
Total Pages: 400
Release: 2017-04-27
Genre: Mathematics
ISBN: 1470419823

We live in a highly connected world with multiple self-interested agents interacting and myriad opportunities for conflict and cooperation. The goal of game theory is to understand these opportunities. This book presents a rigorous introduction to the mathematics of game theory without losing sight of the joy of the subject. This is done by focusing on theoretical highlights (e.g., at least six Nobel Prize winning results are developed from scratch) and by presenting exciting connections of game theory to other fields such as computer science (algorithmic game theory), economics (auctions and matching markets), social choice (voting theory), biology (signaling and evolutionary stability), and learning theory. Both classical topics, such as zero-sum games, and modern topics, such as sponsored search auctions, are covered. Along the way, beautiful mathematical tools used in game theory are introduced, including convexity, fixed-point theorems, and probabilistic arguments. The book is appropriate for a first course in game theory at either the undergraduate or graduate level, whether in mathematics, economics, computer science, or statistics. The importance of game-theoretic thinking transcends the academic setting—for every action we take, we must consider not only its direct effects, but also how it influences the incentives of others.

Market Theory and the Price System

Market Theory and the Price System
Author: Israel Mayer Kirzner
Publisher: Ludwig von Mises Institute
Total Pages: 340
Release: 2007
Genre:
ISBN: 1610160290

Israel Kirzner's outstanding book on price theory is back in print. It is been very difficult to obtain it for decades, even though it is surely the best textbook on Austrian price theory ever written. The prose is crystal clear and the organization exceptional. He takes the reader through the foundations of individual action, exchange, utility, demand and supply, production, and the market process itself. Had it been in print, it would have schooled generations in Austrian price theory, and it is surely useful in the classroom today, or for general reading. Not a collection of essays, it is an integrated presentation from top to bottom, written early in Kirzner's post-doctoral career.

Twenty Lectures on Algorithmic Game Theory

Twenty Lectures on Algorithmic Game Theory
Author: Tim Roughgarden
Publisher: Cambridge University Press
Total Pages: 356
Release: 2016-08-30
Genre: Computers
ISBN: 1316781178

Computer science and economics have engaged in a lively interaction over the past fifteen years, resulting in the new field of algorithmic game theory. Many problems that are central to modern computer science, ranging from resource allocation in large networks to online advertising, involve interactions between multiple self-interested parties. Economics and game theory offer a host of useful models and definitions to reason about such problems. The flow of ideas also travels in the other direction, and concepts from computer science are increasingly important in economics. This book grew out of the author's Stanford University course on algorithmic game theory, and aims to give students and other newcomers a quick and accessible introduction to many of the most important concepts in the field. The book also includes case studies on online advertising, wireless spectrum auctions, kidney exchange, and network management.

The Positive Theory of Capital

The Positive Theory of Capital
Author: Eugen von Böhm-Bawerk
Publisher: Jazzybee Verlag
Total Pages: 476
Release: 1891
Genre: Business & Economics
ISBN:

Von Boehm-Bawerk is one of the leading economists of the so-called Austrian school. With Karl Menger and others, he has contributed to the development of a theory of value which has received wide acceptance, and has been the cause of still wider discussion, in the economic world. This theory, as elaborated by Boehm von Bawerk, is based largely upon psychological principles. Its chief feature consists in a searching analysis of ‘subjective value.’ In his “Capital and Interest”, the author makes a brilliant and original study of these two subjects. “The Positive Theory of Capital” is the successor to the work mentioned above.