ECON 4020
Auction Theory and Practice
Course Description
Covers the building blocks of modern auction theory (e.g. First Price versus Second Price, Dutch versus English, Revenue Equivalence, Auctions of Multiple Goods), critically assesses this theory by studying recent auctions in practice (e.g. 3G auctions, milk and timber auctions, eBay versus Amazon), and applies auction theory to other, non-auction, environments (e.g. election races, take-over-bid-wars, duopoly pricing).