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Auction Theory = Introductory Exercises with Answer Keys /

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Auction Theory/ by Pak-Sing Choi, Felix Munoz-Garcia.
Reminder of title:	Introductory Exercises with Answer Keys /
Author:	Choi, Pak-Sing.
other author:	Munoz-Garcia, Felix.
Description:	XIV, 296 p. 52 illus., 51 illus. in color.online resource. :
Contained By:	Springer Nature eBook
Subject:	Economic theory. -
Online resource:	https://doi.org/10.1007/978-3-030-69575-0
ISBN:	9783030695750

Auction Theory = Introductory Exercises with Answer Keys /
Choi, Pak-Sing.

Auction TheoryIntroductory Exercises with Answer Keys /[electronic resource] :by Pak-Sing Choi, Felix Munoz-Garcia. - 1st ed. 2021. - XIV, 296 p. 52 illus., 51 illus. in color.online resource. - Springer Texts in Business and Economics,2192-4341. - Springer Texts in Business and Economics,.

Chapter 1: Second-price auctions -- Chapter 2: First-price auctions -- Chapter 3: First-price auctions, Extensions -- Chapter 4: All-pay auctions and auctions with asymmetrically informed bidders -- Chapter 5: Third-price auctions, kth-price auctions, and lotteries -- Chapter 6: The Revenue Equivalence principle -- Chapter 7: Common-value auctions -- Chapter 8: Multi-unit auctions -- Chapter 9: Mechanism design -- Chapter 10: Procurement auctions -- Game Theory Appendix -- References.

This textbook provides a short introduction to auction theory through exercises with detailed answer keys. Focusing on practical examples, this textbook offers over 80 exercises that predict bidders’ equilibrium behaviour in different auction formats, along with the seller’s strategic incentives to organize one auction format over the other. The book emphasizes game-theoretic tools, so students can apply similar tools to other auction formats. Also included are several exercises based on published articles, with the model reduced to its main elements and the question divided into several easy-to-answer parts. Little mathematical background in algebra and calculus is assumed, and most algebraic steps and simplifications are provided, making the text ideal for upper undergraduate and graduate students. The book begins with a discussion of second-price auctions, which can be studied without using calculus, and works through progressively more complicated auction scenarios: first-price auctions, all-pay auctions, third-price auctions, the Revenue Equivalence principle, common-value auctions, multi-unit auctions, and procurement auctions. Exercises in each chapter are ranked according to their difficulty, with a letter (A-C) next to the exercise title, which allows students to pace their studies accordingly. The authors also offer a list of suggested exercises for each chapter, for instructors teaching at varying levels: undergraduate, Masters, Ph.D. Providing a practical, customizable approach to auction theory, this textbook is appropriate for students of economics, finance, and business administration. This book may also be used for related classes such as game theory, market design, economics of information, contract theory, or topics in microeconomics.

ISBN: 9783030695750

Standard No.: 10.1007/978-3-030-69575-0doiSubjects--Topical Terms:

809881
Economic theory.

LC Class. No.: HB1-846.8

Dewey Class. No.: 330.1

Auction Theory = Introductory Exercises with Answer Keys /
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