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Putting Auction Theory to Work
by Paul Milgrom
Published on 2004-01-12 by Cambridge University Press

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.

This Book was ranked at 17 by Google Books

Book ID of Putting Auction Theory to Work is vPWUAwAAQBAJ, Book which was written byPaul Milgromhave ETAG "ih8y3xEmSrw"

Book which was published by Cambridge University Press since 2004-01-12 have ISBNs, ISBN 13 Code is 9781139449168 and ISBN 10 Code is 1139449168

Book which have 392 Pages

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