Auctions: Theory and Practice / Edition 1

Paperback (Print)
Buy Used
Buy Used from BN.com
$34.93
(Save 39%)
Item is in good condition but packaging may have signs of shelf wear/aging or torn packaging.
Condition: Used – Good details
Used and New from Other Sellers
Used and New from Other Sellers
from $19.54
Usually ships in 1-2 business days
(Save 66%)
Other sellers (Paperback)
  • All (14) from $19.54   
  • New (5) from $48.99   
  • Used (9) from $19.54   

Overview

"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.
Read More Show Less

What People Are Saying

Myerson
As a leader in auction-theory research and as a leading practitioner of auction design, Paul Klemperer is the best person to write the definitive book on auctions in theory and practice. This book ties together material on what economists should learn from auction theory, and on what auction theorists should learn from practical experience in auction design.
Roger B. Myerson, University of Chicago
Robert Wilson
Paul Klemperer is one of the leaders in auction design worldwide. His emphasis in recent years on some of the more practical aspects of the theory—how to attract bidders, how to avoid collusion, how to think about government policy goals in designing public auctions—is particularly innovative. Klemperer's work will be very influential in the coming years.
Robert Wilson, Stanford University
Nils-Henrik von der Fehr
Paul Klemperer not only has full command of the theoretical literature, he also has a very broad experience in putting theoretical insights into practical use.
Nils-Henrik von der Fehr, University of Oslo
Read More Show Less

Product Details

  • ISBN-13: 9780691119250
  • Publisher: Princeton University Press
  • Publication date: 3/8/2004
  • Series: Toulouse Lectures in Economics Series
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 256
  • Sales rank: 1,475,001
  • Product dimensions: 6.04 (w) x 9.20 (h) x 0.62 (d)

Meet the Author

Paul Klemperer is the Edgeworth Professor of Economics at Oxford University and a Fellow of the British Academy and of the Econometric Society.
Read More Show Less

Table of Contents

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 business theorists employ them to explain economic booms and busts. Auctions make up many of the world's most important markets; and this book describes how they have become an important economic force throughout the world.

Auctions: Theory and Practice begins with a non-technical introduction to auction theory, and emphasizes its practical application. Klemperer discusses the successes and failures of the one-hundred-billion dollar "third-generation" mobile-phone license auctions--he was the principal designer of the first of these, which on its own raised thirty four billion dollars. He demonstrates the unexpected power of auction theory to explain seemingly unconnected activities such as corporate takeovers, the intensity of different forms of industrial competition, and even stock trading "frenzies."

Although there are many extremely successful auction markets, there have also been some notable fiascos, and Klemperer provides many examples. In one, bidders signalled to each other by including lot identification numbers and even phone numbers as the final digits of their bids. In another, the winner bid $7 million but the rules required him to pay only $5,000. In a third, only three bidders turned up for an auction of three licences, so each of them won without even having to bid.

Engagingly written, the book will appeal not only to members of graduate courses in auction theory and design but also to anyone interested in auctions and their role in economics.

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)