Springer Texts in Business and Economics
cover

Auction Theory

Introductory Exercises with Answer Keys

Authors: Choi, Pak-Sing, Munoz-Garcia, Felix

  • Presents 83 worked-out exercises on auction theory
  • Provides algebra support and step-by-step calculations
  • Includes exercises based on foundational journal articles
  • Ranks exercises according to difficulty for self-guided study
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Buy this book

eBook 74,89 €
price for Spain (gross)
  • The eBook version of this title will be available soon
  • Due: June 2, 2021
  • ISBN 978-3-030-69575-0
  • Digitally watermarked, DRM-free
  • Included format:
  • ebooks can be used on all reading devices
Hardcover 93,59 €
price for Spain (gross)
  • Due: June 2, 2021
  • ISBN 978-3-030-69574-3
  • Free shipping for individuals worldwide
  • Institutional customers should get in touch with their account manager
  • Covid-19 shipping restrictions
  • The final prices may differ from the prices shown due to specifics of VAT rules
About this Textbook

This textbook provides a short introduction to auction theory through exercises with detailed answer keys. Focusing on practical examples, this textbook offers over 80 exercises that predict bidders’ equilibrium behaviour in different auction formats, along with the seller’s strategic incentives to organize one auction format over the other. The book emphasizes game-theoretic tools, so students can apply similar tools to other auction formats. Also included are several exercises based on published articles, with the model reduced to its main elements and the question divided into several easy-to-answer parts. Little mathematical background in algebra and calculus is assumed, and most algebraic steps and simplifications are provided, making the text ideal for upper undergraduate and graduate students.

The book begins with a discussion of second-price auctions, which can be studied without using calculus, and works through progressively more complicated auction scenarios: first-price auctions, all-pay auctions, third-price auctions, the Revenue Equivalence principle, common-value auctions, multi-unit auctions, and procurement auctions. Exercises in each chapter are ranked according to their difficulty, with a letter (A-C) next to the exercise title, which allows students to pace their studies accordingly. The authors also offer a list of suggested exercises for each chapter, for instructors teaching at varying levels: undergraduate, Masters, Ph.D.

Providing a practical, customizable approach to auction theory, this textbook is appropriate for students of economics, finance, and business administration. This book may also be used for related classes such as game theory, market design, economics of information, contract theory, or topics in microeconomics.

About the authors

Pak-Sing Choi is assistant professor of economics at the Graduate Institute of Industrial Economics of National Central University, Taiwan. His research focuses on the effect of environmental regulation on industrial organization under asymmetric information.

Felix Munoz-Garcia is professor of economics at Washington State University (US). His research focuses on industrial organization, game theory, and their applications to environmental regulation in contexts where firms, government agencies, or both, are imperfectly informed.


Buy this book

eBook 74,89 €
price for Spain (gross)
  • The eBook version of this title will be available soon
  • Due: June 2, 2021
  • ISBN 978-3-030-69575-0
  • Digitally watermarked, DRM-free
  • Included format:
  • ebooks can be used on all reading devices
Hardcover 93,59 €
price for Spain (gross)
  • Due: June 2, 2021
  • ISBN 978-3-030-69574-3
  • Free shipping for individuals worldwide
  • Institutional customers should get in touch with their account manager
  • Covid-19 shipping restrictions
  • The final prices may differ from the prices shown due to specifics of VAT rules
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Bibliographic Information

Bibliographic Information
Book Title
Auction Theory
Book Subtitle
Introductory Exercises with Answer Keys
Authors
Series Title
Springer Texts in Business and Economics
Copyright
2021
Publisher
Springer International Publishing
Copyright Holder
The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG
eBook ISBN
978-3-030-69575-0
DOI
10.1007/978-3-030-69575-0
Hardcover ISBN
978-3-030-69574-3
Series ISSN
2192-4333
Edition Number
1
Number of Pages
XIV, 294
Number of Illustrations
1 b/w illustrations, 51 illustrations in colour
Topics