Open AccessBook
An Introduction to Auction Theory
Flavio M. Menezes,Paulo Klinger Monteiro +1 more
- 04 Nov 2004
198
TL;DR: In this paper, the authors introduce the concept of Bayesian Nash equilibrium and the idea of studying auctions as games, and derive a general version of the revenue equivalence theorem and characterize the optimal auction.
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Abstract: This book presents an in-depth discussion of the auction theory. It introduces the concept of Bayesian Nash equilibrium and the idea of studying auctions as games. Private, common, and affiliated values models and multi-object auction models are described. A general version of the Revenue Equivalence Theorem is derived and the optimal auction is characterized to relate the field of mechanism design to auction theory.(Publisher website)
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Citations
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A model of descending auction with hidden starting price and endogenous price decrease
TL;DR: In this article, the authors analyzed the effect of the concealment of the price in a standard Dutch auction and derived players' best strategy and the Nash equilibrium of the game, and compared their theoretical results with empirical data about 135 price reveal auctions held between December 2009 and April 2011 on the website Bidster.com.
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Three‐stage auction scheme for computation offloading on mobile blockchain with edge computing
TL;DR: It is proved that this auction scheme guarantees truthfulness, individual rationality and budget balance, and the social welfare of the scheme is improved by 33.78%, 21.84%, 19.69%, and 6.69% for 1000 miners, compared with the existing works.
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Diez Lecciones de Microeconomía Aplicada
Francesc Trillas
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TL;DR: The authors repasar the temas estandar de teoria microeconomica and de la organización industrial 1 a un nivel intermedio y avanzado.
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Grid Distributions to study single object auctions (Preliminary Version.)
Luciano I. de Castro
- 01 Jan 2008
TL;DR: In this paper, a new approach for dealing with general dependence in auctions is proposed, which allows both theoretical and numerical characterization of monotone pure strategy equilibria in first price auctions.
2
References
Optimal Auction Design
TL;DR: Optimal auctions are derived for a wide class of auction design problems when the seller has imperfect information about how much the buyers might be willing to pay for the object.
7K
A theory of auctions and competitive bidding
Paul Milgrom,Robert J. Weber +1 more
TL;DR: In this article, a new general auction model was proposed, and the properties of affiliated random variables were investigated, and various theorems were presented in Section 4-8 and Section 9.
•Book
A course in probability theory
Kai Lai Chung
- 01 Jan 2001
TL;DR: This edition of A Course in Probability Theory includes an introduction to measure theory that expands the market, as this treatment is more consistent with current courses.
3.1K
Regulating a monopolist with unknown costs
David P. Baron,Roger B. Myerson +1 more
TL;DR: In this paper, the authors consider the problem of how to regulate a monopolistic firm whose costs are unknown to the regulator, and derive an optimal regulatory policy for the case in which the regulator does not know the costs of the firm.
Auction Theory: A Guide to the Literature
TL;DR: In this article, Klemperer et al. provide an elementary, non-technical, survey of auction theory, by introducing and describing some of the critical papers in the subject.