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Handbook of Game Theory by Shmuel Zamir, Petyon Young

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Chapter 7

Advances in Auctions

Todd R. Kaplan*,; Shmuel Zamir*,    * Department of Economics, University of Exeter Business School, UK Department of Economics, University of Haifa, Israel The Center for the Study of Rationality, The Hebrew University of Jerusalem, Israel

Abstract

As a selling mechanism, auctions have acquired a central position in the free market economy all over the globe. This development has deepened, broadened, and expanded the theory of auctions in new directions. This chapter is intended as a selective update of some of the developments and applications of auction theory in the two decades since Wilson (1992) wrote the previous Handbook chapter on this topic.

Keywords

Auctions

Private-value auctions

Multiunit auctions ...

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