Auctions. Theory and Practice

Name: Auctions. Theory and Practice
Brand: Wiley
SKU: 2631536
Price: 383.80 BYN
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Governments use them to sell everything from oilfields to pollution permits, and to privatize companies; consumers rely on them to buy baseball tickets and hotel rooms, and economic theorists employ them to explain booms and busts. Auctions make up many of the world's most important markets; and this book describes how auction theory has also become an invaluable tool for understanding economics. Auctions: Theory and Practice provides a non-technical introduction to auction theory, and emphasises its practical application. Although there are many extremely successful auction markets, there have also been some notable fiascos, and Klemperer provides many examples. He discusses the successes and failures of the one-hundred-billion dollar "third-generation" mobile-phone license auctions; he, jointly with Ken Binmore, designed the first of these. Klemperer also demonstrates the surprising power of auction theory to explain seemingly unconnected issues such as the intensity of different forms of industrial competition, the costs of litigation, and even stock trading 'frenzies' and financial crashes.Engagingly written, the book makes the subject exciting not only to economics students but to anyone interested in auctions and their role in economics.

Артикул

2631536

Издательство

Wiley

Тип обложки

мягкая обложка

Автор

Klemperer Paul

Штрих код

9780691119250

Год

2004