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Titlebook: Auction Theory; Introductory Exercis Pak-Sing Choi,Felix Munoz-Garcia Textbook 2021 The Editor(s) (if applicable) and The Author(s), under

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期刊全称Auction Theory
期刊简称Introductory Exercis
影响因子2023Pak-Sing Choi,Felix Munoz-Garcia
视频video
发行地址Presents 83 worked-out exercises on auction theory.Provides algebra support and step-by-step calculations.Includes exercises based on foundational journal articles.Ranks exercises according to difficu
学科分类Springer Texts in Business and Economics
图书封面Titlebook: Auction Theory; Introductory Exercis Pak-Sing Choi,Felix Munoz-Garcia Textbook 2021 The Editor(s) (if applicable) and The Author(s), under
影响因子.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
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Second-Price Auctions, first approximation to bidding behavior for non-technical readers. Examples of this auction format include eBay sales, auctioning radio spectrums, and the pricing that search engines, such as Google, Bing, or Yahoo, use to sell keyword-based advertising.
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Third-Price Auctions, ,th-Price Auctions, and Lotteries,pays the second-highest bid. A similar argument applies to the third-price auction, where . = 3, as the winning bidder pays the third-highest bid, and, more generally, to any other auction format where . > 3.
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Ŝz—adapted graphs in different formscan also find this type of auctions being used by internet sellers such as ., which requires bidders to purchase tokens/points before an auction starts, and then submit their token bids, which cannot be recovered regardless of the outcome of the auction.
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Common-Value Auctions,ion, but they have imprecise and potentially different signals of the amount of oil barrels in the reservoir (as they receive different engineering reports) and, as a consequence, hold different estimates of the oil lease’s profitability.
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