TY  - BOOK
AU  - Milgrom, Paul Robert
PY  - 2004
DA  - 2004//
TI  - Putting auction theory to work
T3  - Churchill lectures in economics
PB  - Cambridge University Press
CY  - Cambridge
KW  - Auction theory
KW  - Auctions
KW  - Mathematical models
KW  - Auctions ; Mathematical models
AB  - 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
SN  - 9780511813825
UR  - https://doi.org/10.1017/CBO9780511813825
DO  - 10.1017/CBO9780511813825
LA  - English
N1  - Paul Milgrom
ID  - 883326817
ER  -