Auctions: Theory and Practice
The Toulouse Lectures in Economics
Nuffield College, Oxford University, Oxford OX1 1NF, England
Princeton University Press, 2004 (click here for details or to purchase)
This book is a non-technical introduction
to auction theory; its practical application in auction design (including many
examples); and its uses in other parts of economics. It can be used for a graduate
course on auction theory, or – by picking selectively – an advanced
undergraduate or MBA course on auctions and auction design.
Part A introduces the basic theory. Part B shows how modern auction-theoretic tools illuminate a range of mainstream economic questions that are superficially unconnected with auctions. Part C discusses practical auction design. Part D describes the one-hundred-billion dollar 3G mobile-phone license auctions. None of the writing is technical, except in the Appendices.
The material was presented as the inaugural (2003) Toulouse Lectures in Economics.
The links below are mostly to the original papers. The published material is almost identical.
|A||INTRODUCTION TO THE THEORY|
|1||A Survey of Auction Theory|
|• Exercises and Solutions|
|B||APPLICATIONS TO OTHER AREAS OF ECONOMICS|
|2||Why Every Economist Should Learn Some Auction Theory|
|C||PRACTICAL AUCTION DESIGN|
|3||What Really Matters in Auction Design|
|4||Using and Abusing Auction Theory|
|D||CASE STUDY – THE 3G MOBILE-PHONE AUCTIONS|
|5||Overview of the European Auctions|
|6||Designing the UK Auction|
|8||Were Auctions a Good Idea?|
|Suggestions for Course Outlines|
© Paul Klemperer, 2004