Auctions, Timothy P. Hubbard
Auctions, Timothy P. Hubbard
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Auctions

Author: Timothy P. Hubbard, Harry J. Paarsch

Narrator: Sean Pratt

Unabridged: 5 hr 40 min

Format: Digital Audiobook Download

Publisher: Ascent Audio

Published: 02/01/2016


Synopsis

Although it is among the oldest of market institutions, the auction is ubiquitous in today's economy, used for everything from government procurement to selling advertising on the Internet to course assignment at MIT's Sloan School. And yet beyond the small number of economists who specialize in the subject, few people understand how auctions really work. This concise, accessible, and engaging book explains both the theory and the practice of auctions. It describes the main auction formats and pricing rules, develops a simple model to explain bidder behavior, and provides a range of real-world examples.

The authors explain what constitutes an auction and how auctions can be modeled as games of asymmetric information -- that is, games in which some players know something that other players do not. They characterize behavior in these strategic situations and maintain a focus on the real world by illustrating their discussions with examples that include not just auctions held by eBay and Sotheby's, but those used by Google, the U.S. Treasury, TaskRabbit, and charities. Listeners will begin to understand how economists model auctions and how the rules of the auction shape bidder incentives. They will appreciate the role auctions play in our modern economy and understand why these selling mechanisms are so resilient.

Reviews

Goodreads review by Chris on January 28, 2019

Not bad, but don't expect to get a working knowledge of this subject matter from this book, especially since all figures from an appended pdf are missing. As one would suspect from the imprint, the book is written from an economics perspective, so its primarily to do w/ auction theory, with some app......more

Goodreads review by Sinan on December 07, 2019

A concise, well-written introduction to auctions. Authors provide easy-to-understand examples and avoid almost all math to make the book accessible. I was surprised by how wide-spread the impact of auctions in our daily lives can be.......more

Goodreads review by Arezoo on March 16, 2023

3.5 موضوع از این قراره که ژانویه‌ی امسال یه شکایت نسبتا هنگفتی از‌ گوگل شده و دلیل اصلیش‌تخلف گوگل تو اصول مزایده‌ی روی تبلیغات بوده. آکشن ،که لغت بهتریه تا مزایده چون‌ الزاما تو بعضی حالتا *زیاد شدن* رخ نمیده، یکی از زیرشاخه‌های مشترک بین اقتصاد و نظریه‌ی بازی‌هاست. صرفا دنبال این بودم که علمم رو تو......more