Advances in Auctions

Authors: 
Todd R. Kaplan
Shmuel Zamir
Abstract: 

As a selling mechanism, auctions have acquired a central position in the free market econ-omy all over the globe. This development has deepened, broadened, and expanded the theory of auctions in new directions. This chapter is intended as a selective update of some of the developments and applications of auction theory in the two decades since Wilson (1992) wrote the previous Handbook chapter on this topic.

Date: 
March, 2014
Published in: 
This paper is a chapter in the forthcoming Handbook of Game Theory, Volume 4, edited by Peyton Young and Shmuel Zamir, Elsevier (2014).
Number: 
662