Auctions
Subtitle: theory and practice
By: Paul Klemperer.
Series: The Toulouse lectures in economics
Publisher: Princeton University Press
Published: 2003
Place of publication: Princeton, N.J
Language: eng
Number of pages: 246
Subjects: Auctions.; Auctions -- European Union countries -- Case studies.
Genres: Case studies.
Description: "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 emphasizes 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."--BOOK JACKET.
Notes: Includes bibliographical references and index.