Auction Theory

Paul Milgrom

No 779, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: This paper discusses two central questions: Why do auction institutions continue to be so popular after thousands of years? and What accounts for particular details, like the popularity of sealed bid and ascending-bid auctions?

Keywords: Auction theory; sealed-bid auctions; ascending-bid auctions (search for similar items in EconPapers)
Pages: 53 pages
Date: 1985-11
References: View complete reference list from CitEc
Citations: View citations in EconPapers (76)

Published in Truman Bewley (ed.), Advances in Economic Theory: Fifth World Congress, Cambridge University Press, 1987, pp. 1-32

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