Auction Theory: a Guide to the Literature

Paul Klemperer

No 2163, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This paper provides an elementary, non-technical, survey of auction theory, by introducing and describing some of the critical papers in the subject. The most important of these are reproduced in a companion book, The Economic Theory of Auctions, Paul Klemperer (ed.), Edward Elgar (pub.), forthcoming.) We begin with the most fundamental concepts, and then introduce the basic analysis of optimal auctions, the revenue equivalence theorem, and marginal revenues. Subsequent sections address risk-aversion, affiliation, asymmetries, entry, collusion, multi-unit auctions, double auctions, royalties, incentive contracts, and other topics. Appendices contain technical details, some simple worked examples, and bibliographies.

Keywords: Auction Theory; Auctions; Bidding; Common-Value Auctions; Mechanism Design; Private-Value-Auctions (search for similar items in EconPapers)
JEL-codes: D44 (search for similar items in EconPapers)
Date: 1999-06
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Citations: View citations in EconPapers (446)

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Related works:
Journal Article: Auction Theory: A Guide to the Literature (1999)
Working Paper: Auction Theory: a Guide to the Literature (1999)
Working Paper: Auction Theory: A Guide to the Literature (1999)
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