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An Introduction to Auction Theory$
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Flavio M. Menezes and Paulo K. Monteiro

Print publication date: 2004

Print ISBN-13: 9780199275984

Published to Oxford Scholarship Online: April 2005

DOI: 10.1093/019927598X.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see www.oxfordscholarship.com/page/privacy-policy).date: 18 June 2019

Introduction

Introduction

Chapter:
(p.1) 1 Introduction
Source:
An Introduction to Auction Theory
Author(s):

Flavio M. Menezes (Contributor Webpage)

Paulo K. Monteiro

Publisher:
Oxford University Press
DOI:10.1093/019927598X.003.0001

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 unknown costs, the design of a mechanism that will establish competition for the market when there is none, and the design of a spot market for electricity. It discusses the current treatment of auctions in existing graduate microeconomics textbooks, and compares this book and that of Klemperer (2004). It describes the book’s intended audience and its contents.

Keywords:   auction theory, economics, regulation, competition, sport market, Klemperer

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