Relevance to Practice and Auction Theory: A Memorial Essay for Michael Rothkopf

Ronald Harstad and Aleksandar Saša Pekeč ()
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Aleksandar Saša Pekeč: Fuqua School of Business, Duke University, Durham, North Carolina 27708

Interfaces, 2008, vol. 38, issue 5, 367-380

Abstract: This essay assesses the state of auction theory in a particular dimension: its relevance to practice. Most auction models are more abstract than necessary. They depend on assumptions that are highly unlikely to occur in practical situations, which are often less formal and rigid. Nonetheless, we discuss several significant steps toward offering more practical advice.

Keywords: bidding theory; practical auction design; combinatorial auctions (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:orinte:v:38:y:2008:i:5:p:367-380

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