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.

Economics and Information Systems

Economics and Information Systems
Author: Terrence Hendershott
Publisher: Elsevier Science Limited
Total Pages: 692
Release: 2006-12-28
Genre: Business & Economics
ISBN: 9780444517715

Contains chapters that focus on the individual interrelated subjects regarding the economics of information systems: the adoption and diffusion of information technologies; the pricing of data communications; the means and tactics firms us to compete with each other; and the manner in which firms interact with and distribute goods to customers.

Game Theory and Business Applications

Game Theory and Business Applications
Author: Kalyan Chatterjee
Publisher: Springer Science & Business Media
Total Pages: 407
Release: 2013-06-26
Genre: Business & Economics
ISBN: 1461470951

Game theory has been applied to a growing list of practical problems, from antitrust analysis to monetary policy; from the design of auction institutions to the structuring of incentives within firms; from patent races to dispute resolution. The purpose of Game Theory and Business Applications is to show how game theory can be used to model and analyze business decisions. The contents of this revised edition contain a wide variety of business functions – from accounting to operations, from marketing to strategy to organizational design. In addition, specific application areas include market competition, law and economics, bargaining and dispute resolution, and competitive bidding. All of these applications involve competitive decision settings, specifically situations where a number of economic agents in pursuit of their own self-interests and in accordance with the institutional “rules of the game” take actions that together affect all of their fortunes. As this volume demonstrates, game theory provides a compelling guide for analyzing business decisions and strategies.

A Collection of Surveys on Market Experiments

A Collection of Surveys on Market Experiments
Author: Charles Noussair
Publisher: John Wiley & Sons
Total Pages: 374
Release: 2013-11-27
Genre: Business & Economics
ISBN: 1118790685

Comprised of 10 surveys by leading scholars, this collection showcases the largest and fastest growing strands of research on market behaviour in experimental economics. Covers topics such as asset markets, contests, environmental policy, frictions, general equilibrium, labour markets, multi-unit auctions, oligopoly markets, and prediction markets Focuses on the literature that has helped economists best understand how markets operate Assesses the impact of developments in theory, policy, and research methods

Auctioning Public Assets

Auctioning Public Assets
Author: Maarten Janssen
Publisher:
Total Pages: 344
Release: 2004
Genre: Business & Economics
ISBN:

In many countries all over the world, governments are privatising firms that were previously under public control. This is happening, for example, in public utility sectors such as gas, water and electricity, in transport sectors (such as rail and metro) and in radio and telephony. This book provides an overview of the economic issues that are involved in this transfer of ownership of public assets. Combining a theoretical framework with a set of case studies of recent sales of state-owned assets from Europe and the USA, it asks which sort of allocation mechanism can a government adopt? Which is most suited to a particular sale? And how will the choice of allocation mechanism affect future market outcomes? With contributions from international experts, this book offers an accessible introduction to auction theory and an invaluable, non-technical analysis of existing knowledge. It will be of interest to students, non-specialists and policy-makers alike.

Large-scale Multi-item Auctions

Large-scale Multi-item Auctions
Author: Sascha Michael Schweitzer
Publisher: KIT Scientific Publishing
Total Pages: 212
Release: 2014-10-16
Genre: Business & Economics
ISBN: 3866449046

This book presents two experimental studies that deal with the comparison of multi-item auction designs for two specific applications: the sale of 2.6 GHz radio spectrum rights in Europe, and the sale of emissions permits in Australia. In order to tackle the complexity of these experiments, a cognitively based toolkit is proposed, including modularized video instructions, comprehension tests, a learning platform, a graphical one-screen user interface, and comprehension-based group matching.

Networks, Crowds, and Markets

Networks, Crowds, and Markets
Author: David Easley
Publisher: Cambridge University Press
Total Pages: 745
Release: 2010-07-19
Genre: Computers
ISBN: 1139490303

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.

Auctioning Public Assets

Auctioning Public Assets
Author: Maarten Christiaan Wilhelmus Janssen
Publisher: Cambridge University Press
Total Pages: 340
Release: 2004
Genre: Business & Economics
ISBN: 9780521537575

In many countries all over the world, governments are privatising firms that were previously under public control. This is happening, for example, in public utility sectors such as gas, water and electricity, in transport sectors (such as rail and metro) and in radio and telephony. This book provides an overview of the economic issues that are involved in this transfer of ownership of public assets. Combining a theoretical framework with a set of case studies of recent sales of state-owned assets from Europe and the USA, it asks which sort of allocation mechanism can a government adopt? Which is most suited to a particular sale? And how will the choice of allocation mechanism affect future market outcomes? With contributions from international experts, this book offers an accessible introduction to auction theory and an invaluable, non-technical analysis of existing knowledge. It will be of interest to students, non-specialists and policy-makers alike.

Handbook of Spectrum Auction Design

Handbook of Spectrum Auction Design
Author: Martin Bichler
Publisher: Cambridge University Press
Total Pages: 935
Release: 2017-10-26
Genre: Business & Economics
ISBN: 1107135346

An international team of experts covers the pros and cons of different auction formats and lessons learned in the field.

Papers in Experimental Economics

Papers in Experimental Economics
Author: Vernon L. Smith
Publisher: Cambridge University Press
Total Pages: 829
Release: 1991-11-29
Genre: Business & Economics
ISBN: 0521364566

A collection of the major papers of Vernon L. Smith, the main creator of the new field of experimental economics.