Going, going, gone! A swift tour of auction theory and its applications
De Economist , Volume 154 - Issue 2 p. 197- 249
This paper provides a swift tour of auction theory and its applications. Among the questions it considers are: How much do bidders bid in commonly studied single-object auctions? How efficient are these auctions? How much revenue do they generate? Which single-object auction maximizes the seller's expected revenue? What is the best way to auction incentive contracts? And, how efficient and complex are multi-object auctions?