Citation:
Todd R. Kaplan, Shmuel Zamir . “Advances In Auctions”. Discussion Papers 2014. Web.
Abstract:
As a selling mechanism, auctions have acquired a central position in the free market econ-omy all over the globe. This development has deepened, broadened, and expanded the theory of auctions in new directions. This chapter is intended as a selective update of some of the developments and applications of auction theory in the two decades since Wilson (1992) wrote the previous Handbook chapter on this topic.