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Auction theory: a guided tour

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  • Roberto Burguet

    (Colegio de México e Instituto de Análisis Económico (CSIC))

Abstract

I present an overview of what has been the theoretical analysis of auctions in the last two decades. The goal is to offer a systematic exposition of the main issue addressed by this literature with more emphasis on why than on what. For that, I present a unified framework that takes the reader through the analysis of both design questions and positive ones dealing with the workings of several standard institutions. At the end of the tour, the reader will find him or herself inside the realm of market design and the theory of price formation.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Roberto Burguet, 2000. "Auction theory: a guided tour," Investigaciones Economicas, Fundación SEPI, vol. 24(1), pages 3-50, January.
  • Handle: RePEc:iec:inveco:v:24:y:2000:i:1:p:3-50
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    References listed on IDEAS

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    Cited by:

    1. Estrella Alonso & Gustavo Juan Tejada, 2012. "The Auction Model with Lowest Risk in a Duopolistic Electricity Market," Económica, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata, vol. 0, pages 3-21, January-D.
    2. Estrella Alonso & Juan Tejada, 2010. "Equivalencia de Ingresos en un Duopolio Eléctrico," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 47(136), pages 191-215.
    3. Jan K. Brueckner, 2008. "Slot-Based Approaches to Airport Congestion Management," CESifo Working Paper Series 2302, CESifo Group Munich.
    4. Stanley Reynolds & John Wooders, 2009. "Auctions with a buy price," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 38(1), pages 9-39, January.
    5. Dastidar, Krishnendu Ghosh, 2008. "On procurement auctions with fixed budgets," Research in Economics, Elsevier, vol. 62(2), pages 72-91, June.
    6. Sarah Parlane, 2003. "Auction versus private treaty," Working Papers 200306, School of Economics, University College Dublin.
    7. Masili, Gustavo, 2006. "Auction with aftermarket for budget constrained bidders," MPRA Paper 2134, University Library of Munich, Germany.
    8. Brueckner, Jan K., 2009. "Price vs. quantity-based approaches to airport congestion management," Journal of Public Economics, Elsevier, vol. 93(5-6), pages 681-690, June.

    More about this item

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions

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