Auction Theory

Auction Theory

2nd Edition - August 12, 2009

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  • Author: Vijay Krishna
  • Hardcover ISBN: 9780123745071
  • eBook ISBN: 9780080922935

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Auction Theory, Second Edition improves upon his 2002 bestseller with a new chapter on package and position auctions as well as end-of-chapter questions and chapter notes. Complete proofs and new material about collusion complement Krishna’s ability to reveal the basic facts of each theory in a style that is clear, concise, and easy to follow. With the addition of a solutions manual and other teaching aids, the 2e continues to serve as the doorway to relevant theory for most students doing empirical work on auctions.

Key Features

  • Focuses on key auction types and serves as the doorway to relevant theory for those doing empirical work on auctions
  • New chapter on combinatorial auctions and new analyses of theory-informed applications
  • New chapter-ending exercises and problems of varying difficulties support and reinforce key points


Graduate students and professors working in finance, economics, and industrial organization, and professionals learning about or developing auctions, either in a university setting or in industry

Table of Contents

  • I Single Object Auctions
    Private Value Auctions
    The Revenue Equivalence Principle
    Qualifications and Extensions
    Mechanism Design
    Auctions with Interdependent Values
    The Revenue Ranking ("Linkage") Principle
    Asymmetries and Other Complications
    Efficiency and the English Auction
    Mechanism Design with Interdependent Values
    Bidding Rings

    II Multiple Object Auctions
    An Introduction to Multiple Object Auctions
    Equilibrium and Efficiency with Private Values
    Some Revenue Considerations
    Sequential Sales
    Nonidentical Objects
    Packages and Positions
    Multiple Objects and Interdependent Values

    III Appendices
    Continuous Distributions
    Stochastic Orders
    Order Statistics
    Affiliated Random Variables
    Some Linear Algebra

Product details

  • No. of pages: 336
  • Language: English
  • Copyright: © Academic Press 2009
  • Published: August 12, 2009
  • Imprint: Academic Press
  • Hardcover ISBN: 9780123745071
  • eBook ISBN: 9780080922935

About the Author

Vijay Krishna

Affiliations and Expertise

Pennsylvania State University, University Park, U.S.A.

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  • BartVangerven Mon May 28 2018

    Excellent introduction to auction theory

    Auction theory occupies a prominent place within microeconomics and game theory. This book is an excellent and self-contained introduction to auction theory. I use it as a basis for my auction courses.