The course starts with the basic theory of equilibrium behavior and revenue management in one object standard auctions. The revenue equivalence theorem for standard auctions is introduced. Thereafter, the course focuses on mechanism design and its applications to one object auctions and bilateral trade.
Basic knowledge of microeconomics and statistics are recommended. A background in game theory is helpful, but not necessary.
The lecture will be held in English.
- Krishna, V.: Auction Theory, Academic Press, 2009.
- Milgrom, P.: Putting Auction Theory to Work, Cambridge University Press, 2010.
- Mathews, S.: A Technical Primer on Auction Theory I: Independent Private Values No. 1096; Northwestern University, Center for Mathematical Studies in Economics and Management Science, 1995.