Auction Theory

2nd Edition

Authors: Vijay Krishna
Hardcover ISBN: 9780123745071
eBook ISBN: 9780080922935
Imprint: Academic Press
Published Date: 12th August 2009
Page Count: 336
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Description

Vijay Krishna’s 2e of Auction Theory 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

Readership

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

 Introduction

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

Details

No. of pages:
336
Language:
English
Copyright:
© Academic Press 2010
Published:
Imprint:
Academic Press
eBook ISBN:
9780080922935
Hardcover ISBN:
9780123745071

About the Author

Vijay Krishna

Affiliations and Expertise

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

Reviews

"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