CFDP 779

Auction Theory

Author(s): 

Publication Date: November 1985

Pages: 53

Abstract: 

This paper discusses two central questions: Why do auction institutions continue to be so popular after thousands of years? and What accounts for particular details, like the popularity of sealed bid and ascending-bid auctions?

Keywords: 

Auction theory, Sealed-bid auctions, Ascending-bid auctions

JEL Classification Codes:  022

Note: 

Published in Truman Bewley, ed., Advances in Economic Theory: Fifth World Congress, Cambridge University Press, 1987, pp. 1-32