COVID-19 Update: We are currently shipping orders daily. However, due to transit disruptions in some geographies, deliveries may be delayed. To provide all customers with timely access to content, we are offering 50% off Science and Technology Print & eBook bundle options. Terms & conditions.
Auction Theory - 2nd Edition - ISBN: 9780123745071, 9780080922935

Auction Theory

2nd Edition

Author: Vijay Krishna
Hardcover ISBN: 9780123745071
eBook ISBN: 9780080922935
Imprint: Academic Press
Published Date: 12th August 2009
Page Count: 336
Sales tax will be calculated at check-out Price includes VAT/GST
Price includes VAT/GST

Institutional Subscription

Secure Checkout

Personal information is secured with SSL technology.

Free Shipping

Free global shipping
No minimum order.


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


No. of pages:
© Academic Press 2009
12th August 2009
Academic Press
Hardcover ISBN:
eBook ISBN:

About the Author

Vijay Krishna

Affiliations and Expertise

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


"Krishna’s superb Auction Theory is an ideal text and reference because his clear and precise exposition distills the vast literature and provides excellent motivation, examples, exercises, and connections to commercial applications." --Robert B. Wilson, Stanford University

"On its publication in 2002, Vijay Krishna's book immediately became a central reference in auction theory. But the subject has continued to develop, and so we're very fortunate that Krishna has now updated the text." --Eric Maskin, Institute for Advanced Study, Nobel Laureate in Economics

Ratings and Reviews