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Erschienen in:
2019 | OriginalPaper | Buchkapitel
Urs Birchler Recommends “Why Every Economist Should Learn Some Auction Theory” by Paul Klemperer
verfasst von : Urs Birchler
Erschienen in: 21st Century Economics
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Abstract
Many people think they hardly ever participate in an auction. Yet, they may be wrong. Auction-like formats abound in settings that do not look like auctions at first sight. Examples range from queuing, job search, court litigation, architectural competitions to Bitcoin mining. Knowing some basics of auction theory and a few pitfalls of auction practice can make the difference between success and disappointment. Reading Klemperer’s paper means time well invested.