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.
|A||INTRODUCTION TO THE THEORY|
|1||A Survey of Auction Theory|
|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, 2006