Details about Paul Klemperer

Homepage:	http://www.paulklemperer.org
Workplace:	Economics Group, Nuffield College, Department of Economics, Oxford University, (more information at EDIRC) Department of Economics, Oxford University, (more information at EDIRC)

Access statistics for papers by Paul Klemperer.

Last updated 2025-02-06. Update your information in the RePEc Author Service.

Short-id: pkl5

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Working Papers

2024

1. Implementing Walrasian Equilibrium: The Languages of Product-Mix Auctions
   Economics Series Working Papers, University of Oxford, Department of Economics

2022

2. An Equilibrium Theory of Rationing
   Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley
   Also in Microeconomics, University Library of Munich, Germany (1999)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (1993) View citations (2)
   See also Journal Article An Equilibrium Theory of Rationing, RAND Journal of Economics, The RAND Corporation (2000) View citations (60) (2000)

2021

3. Misdiagnosing Bank Capital Problems
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
   Also in Research Papers, Stanford University, Graduate School of Business (2021)
   NBER Working Papers, National Bureau of Economic Research, Inc (2021)
4. Strong Substitutes: Structural Properties, and a New Algorithm for Competitive Equilibrium Prices
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
   Also in Economics Papers, Economics Group, Nuffield College, University of Oxford (2021)

2020

5. Solving Strong-Substitutes Product-Mix Auctions
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
   Also in Economics Papers, Economics Group, Nuffield College, University of Oxford (2019) View citations (3)
6. The Equilibrium Existence Duality: Equilibrium with Indivisibilities & Income Effects
   Papers, arXiv.org View citations (7)
   Also in Economics Series Working Papers, University of Oxford, Department of Economics (2020) View citations (8)
   Economics Papers, Economics Group, Nuffield College, University of Oxford (2020) View citations (8)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) View citations (8)

2019

7. Product-Mix Auctions
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
   Also in Economics Papers, Economics Group, Nuffield College, University of Oxford (2018)
8. Understanding Preferences: "Demand Types", and the Existence of Equilibrium with Indivisibilities
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (29)
   Also in Economics Papers, Economics Group, Nuffield College, University of Oxford (2015) View citations (12)
   LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2016) View citations (3)
   See also Journal Article Understanding Preferences: “Demand Types”, and the Existence of Equilibrium With Indivisibilities, Econometrica, Econometric Society (2019) View citations (39) (2019)

2014

9. Equity Recourse Notes: Creating Counter-Cyclical Bank Capital
   Research Papers, Stanford University, Graduate School of Business View citations (3)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2014) View citations (3)

2013

10. Market-Based Bank Capital Regulation
    Research Papers, Stanford University, Graduate School of Business View citations (16)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2013) View citations (16)
    Economics Papers, Economics Group, Nuffield College, University of Oxford (2013) View citations (16)

2012

11. Dynamic Rawlsian Policy
    Economics Series Working Papers, University of Oxford, Department of Economics View citations (4)
12. Regulated Prices, Rent-Seeking, and Consumer Surplus
    Economics Papers, Economics Group, Nuffield College, University of Oxford View citations (48)
    See also Journal Article Regulated Prices, Rent Seeking, and Consumer Surplus, Journal of Political Economy, University of Chicago Press (2012) View citations (47) (2012)

2011

13. Price Controls and Consumer Surplus
    Research Papers, Stanford University, Graduate School of Business
    Also in Economics Papers, Economics Group, Nuffield College, University of Oxford (2009) View citations (1)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2009) View citations (1)

2009

14. A New Auction for Substitutes: Central-Bank Liquidity Auctions, “Toxic Asset” Auctions, and Variable Product-Mix Auctions
    Economics Papers, Economics Group, Nuffield College, University of Oxford View citations (2)
15. A New Payment Rule for Core-Selecting Package Auctions
    Economics Papers, Economics Group, Nuffield College, University of Oxford View citations (9)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2009) View citations (4)
    See also Journal Article A New Payment Rule for Core-Selecting Package Auctions, Journal of the European Economic Association, MIT Press (2010) View citations (44) (2010)
16. The Product-Mix Auction: a New Auction Design for Differentiated Goods
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)
    See also Journal Article The Product-Mix Auction: A New Auction Design for Differentiated Goods, Journal of the European Economic Association, MIT Press (2010) View citations (44) (2010)
17. What is the Top Priority on Climate Change?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
    Also in Economics Papers, Economics Group, Nuffield College, University of Oxford (2009) View citations (1)
18. Why Do Sellers (Usually) Prefer Auctions?
    Economics Papers, Economics Group, Nuffield College, University of Oxford View citations (102)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2009) View citations (102)
    See also Journal Article Why Do Sellers (Usually) Prefer Auctions?, American Economic Review, American Economic Association (2009) View citations (102) (2009)

2007

19. When Are Auctions Best?
    Research Papers, Stanford University, Graduate School of Business View citations (2)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations (2)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2007) View citations (2)
    Economics Papers, Economics Group, Nuffield College, University of Oxford (2007) View citations (2)

2006

20. Co-ordination and Lock-in: Competition with Switching Costs and Network Effects
    Economics Papers, Economics Group, Nuffield College, University of Oxford View citations (42)
    Also in Competition Policy Center, Working Paper Series, Competition Policy Center, Institute for Business and Economic Research, UC Berkeley (2006) View citations (52)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2006) View citations (54)
    See also Chapter Coordination and Lock-In: Competition with Switching Costs and Network Effects, Handbook of Industrial Organization, Elsevier (2007) View citations (430) (2007)
21. Network Effects and Switching Costs: two short essays for the new New Palgrave
    Economics Papers, Economics Group, Nuffield College, University of Oxford

2005

22. Bidding Markets
    Law and Economics, University Library of Munich, Germany View citations (6)
    See also Journal Article BIDDING MARKETS, Journal of Competition Law and Economics, Oxford University Press (2007) (2007)

2004

23. Auctions: Theory and Practice
    Economics Papers, Economics Group, Nuffield College, University of Oxford View citations (329)
    See also Book Auctions: Theory and Practice, Online economics textbooks, SUNY-Oswego, Department of Economics (2004) View citations (333) (2004)

2003

24. Using and Abusing Economic Theory
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (21)
    Also in Economics Papers, Economics Group, Nuffield College, University of Oxford (2002) View citations (7)

2002

25. How (Not) to Run Auctions: The European 3G Telecom Auctions
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (125)
    Also in Economics Papers, Economics Group, Nuffield College, University of Oxford (2001) View citations (4)
    See also Journal Article How (not) to run auctions: The European 3G telecom auctions, European Economic Review, Elsevier (2002) View citations (118) (2002)
26. Some Observations on the British and German 3G Telecom Auctions
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)
    Also in Economics Papers, Economics Group, Nuffield College, University of Oxford (2002) View citations (2)
27. The Biggest Auction Ever: The Sale of the British 3G Telecom Licences
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (116)
    Also in Economics Papers, Economics Group, Nuffield College, University of Oxford (2001) View citations (16)
    See also Journal Article The Biggest Auction Ever: the Sale of the British 3G Telecom Licences, Economic Journal, Royal Economic Society (2002) View citations (158) (2002)

2000

28. Applying Auction Theory to Economics
    Economics Series Working Papers, University of Oxford, Department of Economics View citations (12)
29. What Really Matters in Auction Design
    Microeconomics, University Library of Munich, Germany View citations (31)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2000) View citations (25)
    See also Journal Article What Really Matters in Auction Design, Journal of Economic Perspectives, American Economic Association (2002) View citations (355) (2002)
30. What Really Matters in Auction Design: the European Spectrum Auctions
    Econometric Society World Congress 2000 Contributed Papers, Econometric Society View citations (6)
31. Why Every Economist Should Learn Some Auction Theory
    Microeconomics, University Library of Munich, Germany View citations (24)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2000) View citations (20)

1999

32. Auction Theory: A Guide to the Literature
    Microeconomics, University Library of Munich, Germany View citations (448)
    Also in Economics Papers, Economics Group, Nuffield College, University of Oxford (1999) View citations (458)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1999) View citations (448)
    See also Journal Article Auction Theory: A Guide to the Literature, Journal of Economic Surveys, Wiley Blackwell (1999) View citations (399) (1999)
33. Prices and the Winner's Curse
    Game Theory and Information, University Library of Munich, Germany View citations (23)
    See also Journal Article Prices and the Winner's Curse, RAND Journal of Economics, The RAND Corporation (2002) View citations (103) (2002)
34. The Generalized War of Attrition
    Game Theory and Information, University Library of Munich, Germany View citations (106)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1997) View citations (6)
    NBER Working Papers, National Bureau of Economic Research, Inc (1997) View citations (3)
    Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University (1996) View citations (3)
    See also Journal Article The Generalized War of Attrition, American Economic Review, American Economic Association (1999) View citations (107) (1999)
35. The Tobacco Deal
    Economics Papers, Economics Group, Nuffield College, University of Oxford View citations (15)
    Also in HEW, University Library of Munich, Germany (1999)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1999) View citations (3)
    See also Journal Article The Tobacco Deal, Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution (1998) View citations (30) (1998)
36. Toeholds and Takeovers
    Finance, University Library of Munich, Germany View citations (197)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1996) View citations (8)
    Finance, University Library of Munich, Germany (1996) View citations (7)
    See also Journal Article Toeholds and Takeovers, Journal of Political Economy, University of Chicago Press (1999) View citations (204) (1999)

1998

37. Dissolving a Partnership Efficiently
    Papers of Peter Cramton, University of Maryland, Department of Economics - Peter Cramton View citations (8)
    Also in Working papers, Massachusetts Institute of Technology (MIT), Department of Economics (1985)
    See also Journal Article Dissolving a Partnership Efficiently, Econometrica, Econometric Society (1987) View citations (98) (1987)

1997

38. Almost Common Value Auctions: The "Wallet Game" and its Applications to Takeover Battles and Airwaves Auctions
    Economics Papers, Economics Group, Nuffield College, University of Oxford View citations (2)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1997) View citations (1)
39. The Winner's Curse and the Failure of the Law of Demand
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)

1994

40. Auctions vs. Negotiations
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (16)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1994) View citations (37)

1993

41. Do Firms' Product Lines Include Too Many Varieties, and Do Shops Open Too Many Days?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
    Also in Working Papers, CEMFI (1993) View citations (1)

1992

42. Competition When Consumers Have Switching Costs: An Overview
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (27)
    Also in Economics Series Working Papers, University of Oxford, Department of Economics (1992) View citations (9)

1991

43. Rational Frenzies and Crashes
    NBER Technical Working Papers, National Bureau of Economic Research, Inc View citations (5)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1991) View citations (5)
    See also Journal Article Rational Frenzies and Crashes, Journal of Political Economy, University of Chicago Press (1994) View citations (81) (1994)

1990

44. How Broad Should the Scope of Patent Protection Be?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (306)
    See also Journal Article How Broad Should the Scope of Patent Protection Be?, RAND Journal of Economics, The RAND Corporation (1990) View citations (298) (1990)
45. Multi-Period Competition with Switching Costs
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (26)
    See also Journal Article Multi-period Competition with Switching Costs, Econometrica, Econometric Society (1992) View citations (180) (1992)
46. Product Line Competition and Shopping Costs: Why Firms May Choose to Compete Head-to-Head
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)

1988

47. Exchange Rate Pass-Through When Market Share Matters
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (127)
    See also Journal Article Exchange Rate Pass-Through When Market Share Matters, American Economic Review, American Economic Association (1989) View citations (346) (1989)

1983

48. Multimarket Oligopoly
    Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University View citations (27)

Journal Articles

2023

1. The Equilibrium Existence Duality
   Journal of Political Economy, 2023, 131, (6), 1440 - 1476 View citations (6)

2019

2. Understanding Preferences: “Demand Types”, and the Existence of Equilibrium With Indivisibilities
   Econometrica, 2019, 87, (3), 867-932 View citations (39)
   See also Working Paper Understanding Preferences: "Demand Types", and the Existence of Equilibrium with Indivisibilities, CEPR Discussion Papers (2019) View citations (29) (2019)

2015

3. Equity Recourse Notes: Creating Counter†cyclical Bank Capital
   Economic Journal, 2015, 125, (586), F131-F157 View citations (12)

2012

4. Regulated Prices, Rent Seeking, and Consumer Surplus
   Journal of Political Economy, 2012, 120, (1), 160 - 186 View citations (47)
   See also Working Paper Regulated Prices, Rent-Seeking, and Consumer Surplus, Economics Papers (2012) View citations (48) (2012)

2010

5. A New Payment Rule for Core-Selecting Package Auctions
   Journal of the European Economic Association, 2010, 8, (2-3), 537-547 View citations (44)
   See also Working Paper A New Payment Rule for Core-Selecting Package Auctions, Economics Papers (2009) View citations (9) (2009)
6. The Product-Mix Auction: A New Auction Design for Differentiated Goods
   Journal of the European Economic Association, 2010, 8, (2-3), 526-536 View citations (44)
   See also Working Paper The Product-Mix Auction: a New Auction Design for Differentiated Goods, CEPR Discussion Papers (2009) View citations (2) (2009)

2009

7. Why Do Sellers (Usually) Prefer Auctions?
   American Economic Review, 2009, 99, (4), 1544-75 View citations (102)
   See also Working Paper Why Do Sellers (Usually) Prefer Auctions?, Economics Papers (2009) View citations (102) (2009)

2007

8. BIDDING MARKETS
   Journal of Competition Law and Economics, 2007, 3, (1), 1-47
   See also Working Paper Bidding Markets, Law and Economics (2005) View citations (6) (2005)

2003

9. Alfred Marshall Lecture: Using and Abusing Economic Theory
   Journal of the European Economic Association, 2003, 1, (2-3), 272-300 View citations (10)

2002

10. How (not) to run auctions: The European 3G telecom auctions
    European Economic Review, 2002, 46, (4-5), 829-845 View citations (118)
    See also Working Paper How (Not) to Run Auctions: The European 3G Telecom Auctions, CEPR Discussion Papers (2002) View citations (125) (2002)
11. Prices and the Winner's Curse
    RAND Journal of Economics, 2002, 33, (1), 1-21 View citations (103)
    See also Working Paper Prices and the Winner's Curse, Game Theory and Information (1999) View citations (23) (1999)
12. The Biggest Auction Ever: the Sale of the British 3G Telecom Licences
    Economic Journal, 2002, 112, (478), C74-C96 View citations (158)
    See also Working Paper The Biggest Auction Ever: The Sale of the British 3G Telecom Licences, CEPR Discussion Papers (2002) View citations (116) (2002)
13. What Really Matters in Auction Design
    Journal of Economic Perspectives, 2002, 16, (1), 169-189 View citations (355)
    See also Working Paper What Really Matters in Auction Design, Microeconomics (2000) View citations (31) (2000)

2000

14. An Equilibrium Theory of Rationing
    RAND Journal of Economics, 2000, 31, (1), 1-21 View citations (60)
    See also Working Paper An Equilibrium Theory of Rationing, Department of Economics, Working Paper Series (2022) (2022)

1999

15. Auction Theory: A Guide to the Literature
    Journal of Economic Surveys, 1999, 13, (3), 227-286 View citations (399)
    See also Working Paper Auction Theory: A Guide to the Literature, Microeconomics (1999) View citations (448) (1999)
16. The Generalized War of Attrition
    American Economic Review, 1999, 89, (1), 175-189 View citations (107)
    See also Working Paper The Generalized War of Attrition, Game Theory and Information (1999) View citations (106) (1999)
17. Toeholds and Takeovers
    Journal of Political Economy, 1999, 107, (3), 427-454 View citations (204)
    See also Working Paper Toeholds and Takeovers, Finance (1999) View citations (197) (1999)

1998

18. Auctions with almost common values: The 'Wallet Game' and its applications
    European Economic Review, 1998, 42, (3-5), 757-769 View citations (164)
19. The Tobacco Deal
    Brookings Papers on Economic Activity, 1998, 29, (1998 Microeconomics), 323-394 View citations (30)
    See also Working Paper The Tobacco Deal, Economics Papers (1999) View citations (15) (1999)

1997

20. Do Firms' Product Lines Include Too Many Varieties?
    RAND Journal of Economics, 1997, 28, (3), 472-488 View citations (46)

1996

21. Auctions versus Negotiations
    American Economic Review, 1996, 86, (1), 180-94 View citations (330)

1995

22. Competition when Consumers have Switching Costs: An Overview with Applications to Industrial Organization, Macroeconomics, and International Trade
    The Review of Economic Studies, 1995, 62, (4), 515-539 View citations (683)

1994

23. Rational Frenzies and Crashes
    Journal of Political Economy, 1994, 102, (1), 1-23 View citations (81)
    See also Working Paper Rational Frenzies and Crashes, NBER Technical Working Papers (1991) View citations (5) (1991)

1992

24. Equilibrium Product Lines: Competing Head-to-Head May Be Less Competitive
    American Economic Review, 1992, 82, (4), 740-55 View citations (95)
25. Multi-period Competition with Switching Costs
    Econometrica, 1992, 60, (3), 651-66 View citations (180)
    See also Working Paper Multi-Period Competition with Switching Costs, CEPR Discussion Papers (1990) View citations (26) (1990)

1990

26. How Broad Should the Scope of Patent Protection Be?
    RAND Journal of Economics, 1990, 21, (1), 113-130 View citations (298)
    See also Working Paper How Broad Should the Scope of Patent Protection Be?, CEPR Discussion Papers (1990) View citations (306) (1990)

1989

27. Exchange Rate Pass-Through When Market Share Matters
    American Economic Review, 1989, 79, (4), 637-54 View citations (346)
    See also Working Paper Exchange Rate Pass-Through When Market Share Matters, NBER Working Papers (1988) View citations (127) (1988)
28. Price Wars Caused by Switching Costs
    The Review of Economic Studies, 1989, 56, (3), 405-420 View citations (39)
29. Supply Function Equilibria in Oligopoly under Uncertainty
    Econometrica, 1989, 57, (6), 1243-77 View citations (590)

1988

30. Consistent conjectures equilibria: A reformulation showing non-uniqueness
    Economics Letters, 1988, 27, (2), 111-115 View citations (9)
31. Welfare Effects of Entry into Markets with Switching Costs
    Journal of Industrial Economics, 1988, 37, (2), 159-65 View citations (46)

1987

32. Dissolving a Partnership Efficiently
    Econometrica, 1987, 55, (3), 615-32 View citations (98)
    See also Working Paper Dissolving a Partnership Efficiently, Papers of Peter Cramton (1998) View citations (8) (1998)
33. Entry Deterrence in Markets with Consumer Switching Costs
    Economic Journal, 1987, 97, (388a), 99-117 View citations (453)
34. Markets with Consumer Switching Costs
    The Quarterly Journal of Economics, 1987, 102, (2), 375-394 View citations (565)
35. The Competitiveness of Markets with Switching Costs
    RAND Journal of Economics, 1987, 18, (1), 138-150 View citations (256)

1986

36. Price Competition vs. Quantity Competition: The Role of Uncertainty
    RAND Journal of Economics, 1986, 17, (4), 618-638 View citations (135)

1985

37. Holding Idle Capacity to Deter Entry [The Role of Investment in Entry Deterrence]
    Economic Journal, 1985, 95, (377), 178-82 View citations (39)
38. Multimarket Oligopoly: Strategic Substitutes and Complements
    Journal of Political Economy, 1985, 93, (3), 488-511 View citations (1294)

1981

39. Joint strategic planning between health and local authorities
    Omega, 1981, 9, (5), 481-491 View citations (2)

Books

2004

1. Auctions: Theory and Practice
   Online economics textbooks, SUNY-Oswego, Department of Economics View citations (333)
   See also Working Paper Auctions: Theory and Practice, Economics Papers, Economics Group, Nuffield College, University of Oxford (2004) View citations (329) (2004)

Edited books

2000

1. The Economic Theory of Auctions, vol Two volume set
   Books, Edward Elgar Publishing View citations (65)

Chapters

2007

1. Coordination and Lock-In: Competition with Switching Costs and Network Effects
   Elsevier View citations (430)
   See also Working Paper Co-ordination and Lock-in: Competition with Switching Costs and Network Effects, Economics Group, Nuffield College, University of Oxford (2006) View citations (42) (2006)

2004

2. Introduction to Auctions: Theory and Practice
   A chapter in Auctions: Theory and Practice, 2004 View citations (242)
3. Survey of Auction Theory, from Auctions: Theory and Practice
   A chapter in Auctions: Theory and Practice, 2004 View citations (178)
4. What Really Matters in Auction Design, from Auctions: Theory and Practice
   A chapter in Auctions: Theory and Practice, 2004 View citations (10)