Why Every Economist Should Learn Some Auction Theory

This is an Invited paper for the World Congress of the Econometric Society held in Seattle in August 2000. We discuss the strong connections between auction theory and "standard" economic theory, and argue that auction-theoretic tools and intuitions can provide useful arguments and insights in a broad range of mainstream economic settings that do not, at first sight, look like auctions. We also discuss some more obvious applications, especially to industrial organization.

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Year of publication:	2000-09-13
Authors:	Klemperer, Paul
Institutions:	EconWPA
Subject:	Auctions \| Bidding \| Auction Theory \| Private Values \| Common Values \| Mechanism Design \| Litigation \| Stock Markets \| Queues \| Financial Crashes \| Brand Loyalty \| War of Attrition \| Bertrand \| Perfect Competition \| E-Commerce \| Spectrum Auctions \| Treasury Auctions \| Electricity

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Extent:	application/pdf
Series:	Microeconomics.
Type of publication:	Book / Working Paper
Notes:	Type of Document - pdf; prepared on PC; pages: 51; figures: included 51 pages
Classification:	C7 - Game Theory and Bargaining Theory ; D8 - Information and Uncertainty ; L - Industrial Organization ; A - General Economics and Teaching ; G - Financial Economics ; K - Law and Economics ; D6 - Welfare Economics ; D7 - Analysis of Collective Decision-Making ; H - Public Economics ; C9 - Design of Experiments ; J - Labor and Demographic Economics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005135125