Introduction to Auctions

Suren Basov

Chapter 10 in Microeconomics with Spreadsheets, 2017, pp 135-146 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Auctions are common institutions to sell goods ranging from houses to pieces of art and spectrum rights. The four standard auctions are: the first-price sealed bid auction, where bidders submit sealed bids, the highest bidder wins and pays her bid; the second-price sealed bid auction where bidders submit sealed bids, the highest bidder wins and pays the second highest bid; an English auction where the seller starts from a low price and increases it until only one bidder is in, the good is sold at that price; and a Dutch auction, where the seller begins with a very high price and decreases it until the first bidder agrees to buy the good…

Keywords: Microeconomics; Game Theory; Producer Theory; Consumer Theory; Economics of Information; Basics of Industrial Organization; Excel; The Solver (search for similar items in EconPapers)
JEL-codes: C81 (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789813143968_0010 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789813143968_0010 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789813143968_0010

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().