Understanding Auctions: 1st Edition (Hardback) book cover

Understanding Auctions

1st Edition

By Srobonti Chattopadhyay, Rittwik Chatterjee

Routledge

112 pages

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Hardback: 9781138575936
pub: 2019-07-19
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Description

The book elaborates the basic principles of Auction Theory in a non-technical language so as to make them easily accessible to even those not trained in the discipline. Auctions as allocation mechanisms have been in use across the world since antiquity and are still employed in different countries for purchase and sales of a wide range of objects, both by Governments and private agents. Auction has gained popularity over other allocation mechanisms since the rules of auctions are very precise, involve much less subjective judgments compared to other alternative allocation mechanisms and lead to a more efficient process of discovering the true willingness to pay of the buyers. Moreover the principles of Auction Theory are used in other contexts, e.g. in designing contests, controlling emission levels through allocation of permits and licenses etc.

This book is part of the series: Routledge Focus on Management and Society.

Table of Contents

1. What are Auctions and what is Auction Theory? 2. Why Study Auction Theory? 3. The Economics behind Auctions 4. Some Standard Results in Auction Theory 5. Auctions: Some Real-Life Experiences 6. Auctions in India 7. Other Applications of Auction Theory

About the Authors

Srobonti Chattopadhyay is Assistant Professor in Department of Economics at Vidyasagar College for Women, Kolkata, India.

Rittwik Chatterjee is Assistant Professor in Department of Economics at the Centre for Studies in Social Sciences Calcutta, Kolkata, India.

Subject Categories

BISAC Subject Codes/Headings:
BUS041000
BUSINESS & ECONOMICS / Management
BUS090040
BUSINESS & ECONOMICS / E-Commerce / Auctions & Small Business
SOC053000
SOCIAL SCIENCE / Regional Studies