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Introduction

Flavio M. Menezes and Paulo K. Monteiro

in An Introduction to Auction Theory

Published in print:
2004
Published Online:
April 2005
ISBN:
9780199275984
eISBN:
9780191602214
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019927598X.003.0001
Subject:
Economics and Finance, Microeconomics

This introductory chapter provides three examples to illustrate the importance of auction theory to modern economics. These are the problem faced by a regulator wanting to regulate a monopolist with ... More


An Introduction to Auction Theory

Flavio M. Menezes and Paulo K. Monteiro

Published in print:
2004
Published Online:
April 2005
ISBN:
9780199275984
eISBN:
9780191602214
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/019927598X.001.0001
Subject:
Economics and Finance, Microeconomics

This book presents an in-depth discussion of the auction theory. It introduces the concept of Bayesian Nash equilibrium and the idea of studying auctions as games. Private, common, and affiliated ... More


Preliminaries

Flavio M. Menezes and Paulo K. Monteiro

in An Introduction to Auction Theory

Published in print:
2004
Published Online:
April 2005
ISBN:
9780199275984
eISBN:
9780191602214
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019927598X.003.0002
Subject:
Economics and Finance, Microeconomics

This chapter presents the concept of a Bayesian Nash equilibrium as defined by Harsanyi (1967). His approach was to transform a game of incomplete information into one of imperfect information; any ... More


The Bayes-Nash School of Design

Philip Mirowski and Edward Nik-Khah

in The Knowledge We Have Lost in Information: The History of Information in Modern Economics

Published in print:
2017
Published Online:
June 2017
ISBN:
9780190270056
eISBN:
9780190270087
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190270056.003.0012
Subject:
Economics and Finance, History of Economic Thought

This chapter describes the second major school of market design, that primarily associated with the Harsanyi doctrine and game theorists such as William Vickrey and Robert Wilson. In the Bayes-Nash ... More


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