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Author: Paul Klemperer
Publisher: Princeton University Press
ISBN: 0691186294
Category : Business & Economics
Languages : en
Pages : 263
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Book Description
Governments use them to sell everything from oilfields to pollution permits, and to privatize companies; consumers rely on them to buy baseball tickets and hotel rooms, and economic theorists employ them to explain booms and busts. Auctions make up many of the world's most important markets; and this book describes how auction theory has also become an invaluable tool for understanding economics. Auctions: Theory and Practice provides a non-technical introduction to auction theory, and emphasises its practical application. Although there are many extremely successful auction markets, there have also been some notable fiascos, and Klemperer provides many examples. He discusses the successes and failures of the one-hundred-billion dollar "third-generation" mobile-phone license auctions; he, jointly with Ken Binmore, designed the first of these. Klemperer also demonstrates the surprising power of auction theory to explain seemingly unconnected issues such as the intensity of different forms of industrial competition, the costs of litigation, and even stock trading 'frenzies' and financial crashes. Engagingly written, the book makes the subject exciting not only to economics students but to anyone interested in auctions and their role in economics.
Author: Paul Klemperer
Publisher: Princeton University Press
ISBN: 0691186294
Category : Business & Economics
Languages : en
Pages : 263
Get Book Here
Book Description
Governments use them to sell everything from oilfields to pollution permits, and to privatize companies; consumers rely on them to buy baseball tickets and hotel rooms, and economic theorists employ them to explain booms and busts. Auctions make up many of the world's most important markets; and this book describes how auction theory has also become an invaluable tool for understanding economics. Auctions: Theory and Practice provides a non-technical introduction to auction theory, and emphasises its practical application. Although there are many extremely successful auction markets, there have also been some notable fiascos, and Klemperer provides many examples. He discusses the successes and failures of the one-hundred-billion dollar "third-generation" mobile-phone license auctions; he, jointly with Ken Binmore, designed the first of these. Klemperer also demonstrates the surprising power of auction theory to explain seemingly unconnected issues such as the intensity of different forms of industrial competition, the costs of litigation, and even stock trading 'frenzies' and financial crashes. Engagingly written, the book makes the subject exciting not only to economics students but to anyone interested in auctions and their role in economics.
Author: Timothy P. Hubbard
Publisher: MIT Press
ISBN: 0262334739
Category : Business & Economics
Languages : en
Pages : 266
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Book Description
How auctions work, in theory and practice, with clear explanations and real-world examples that range from government procurement to eBay. 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. Readers 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.
Author: Geoffrey Myers
Publisher: LSE Press
ISBN: 1911712039
Category : Business & Economics
Languages : en
Pages : 314
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Book Description
Access to the radio spectrum is vital for modern digital communication. It is an essential component for smartphone capabilities, the Cloud, the Internet of Things, autonomous vehicles, and multiple other new technologies. Governments use spectrum auctions to decide which companies should use what parts of the radio spectrum. Successful auctions can fuel rapid innovation in products and services, unlock substantial economic benefits, build comparative advantage across all regions, and create billions of dollars of government revenues. Poor auction strategies can leave bandwidth unsold and delay innovation, sell national assets to firms too cheaply, or create uncompetitive markets with high mobile prices and patchy coverage that stifles economic growth. Corporate bidders regularly complain that auctions raise their costs, while government critics argue that insufficient revenues are raised. The cross-national record shows many examples of both highly successful auctions and miserable failures. Drawing on experience from the UK and other countries, senior regulator Geoffrey Myers explains how to optimise the regulatory design of auctions, from initial planning to final implementation. Spectrum Auctions offers unrivalled expertise for regulators and economists engaged in practical auction design or company executives planning bidding strategies. For applied economists, teachers, and advanced students this book provides unrivalled insights in market design and public management. Providing clear analytical frameworks, case studies of auctions, and stage-by-stage advice, it is essential reading for anyone interested in designing public-interested and successful spectrum auctions.
Author: Wolfgang Jank
Publisher: John Wiley & Sons
ISBN: 1118031865
Category : Mathematics
Languages : en
Pages : 321
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Book Description
Explore cutting-edge statistical methodologies for collecting, analyzing, and modeling online auction data Online auctions are an increasingly important marketplace, as the new mechanisms and formats underlying these auctions have enabled the capturing and recording of large amounts of bidding data that are used to make important business decisions. As a result, new statistical ideas and innovation are needed to understand bidders, sellers, and prices. Combining methodologies from the fields of statistics, data mining, information systems, and economics, Modeling Online Auctions introduces a new approach to identifying obstacles and asking new questions using online auction data. The authors draw upon their extensive experience to introduce the latest methods for extracting new knowledge from online auction data. Rather than approach the topic from the traditional game-theoretic perspective, the book treats the online auction mechanism as a data generator, outlining methods to collect, explore, model, and forecast data. Topics covered include: Data collection methods for online auctions and related issues that arise in drawing data samples from a Web site Models for bidder and bid arrivals, treating the different approaches for exploring bidder-seller networks Data exploration, such as integration of time series and cross-sectional information; curve clustering; semi-continuous data structures; and data hierarchies The use of functional regression as well as functional differential equation models, spatial models, and stochastic models for capturing relationships in auction data Specialized methods and models for forecasting auction prices and their applications in automated bidding decision rule systems Throughout the book, R and MATLAB software are used for illustrating the discussed techniques. In addition, a related Web site features many of the book's datasets and R and MATLAB code that allow readers to replicate the analyses and learn new methods to apply to their own research. Modeling Online Auctions is a valuable book for graduate-level courses on data mining and applied regression analysis. It is also a one-of-a-kind reference for researchers in the fields of statistics, information systems, business, and marketing who work with electronic data and are looking for new approaches for understanding online auctions and processes. Visit this book's companion website by clicking here
Author: Luiz Maurer
Publisher: World Bank Publications
ISBN: 082138824X
Category : Business & Economics
Languages : en
Pages : 181
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Book Description
Electricity-contract auctions have been getting increased attention as they have emerged as a successful mechanism to procure new generation capacity and. This book presents a comprehensive overview of international experiences in auction design and implementation.
Author: Jay R. Fiske
Publisher: John Wiley & Sons
ISBN: 0470456027
Category : Business & Economics
Languages : en
Pages : 353
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Book Description
The Big Book of Benefit Auctions is the ultimate step-by-step handbook on how to plan and have a successful and effective auction. Auction committees will find it an invaluable reference as it provides all the tools they will need for complete auction planning and management. From setting the goal for the event, to organizing the committee, procuring auction items, building the audience, preparing the catalog and through auction night cashiering (check out) services, everything you will want to know about the auction process is readily at your fingertips in this resource guide. The book will not only contain important "how to" information, it will also explain why some decisions and activities are not only good practices, they are essential to having a well-run and efficient event. Also, the book will discuss important strategies for maximizing revenue at your event, and will cover common pitfalls and how to avoid them.
Author: Ursula Hermancinski
Publisher: Square One Publishers, Inc.
ISBN: 0757002757
Category : Antiques & Collectibles
Languages : en
Pages : 257
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Book Description
From America to Zanzibar, the popularity of wine has skyrocketed in recent years. While millions of people have come to appreciate wine's taste, a growing number of collectors also recognize it as a sound investment. For these savvy individuals, as well as top chefs and wine aficionados, the wine auction has become an important place to find superior wines. Now, renowned wine auctioneer Ursula Hermacinski has written The Wine Lover's Guide to Auctions to explain how wine auctions really work so that you, too, can become a successful player. The guide begins by exploring the history of wine auctions. It then provides information on wine basics and details the auction process--for buyers and sellers. Rounding out the book are helpful hints for starting or expanding your wine collection, choosing the best auction house for your needs, and organizing your own wine tasting.
Author: Mr.Robert Alan Feldman
Publisher: International Monetary Fund
ISBN: 145184283X
Category : Business & Economics
Languages : en
Pages : 32
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Book Description
A major effort is taking place in many parts of the world to establish market-oriented institutions, a development that is particularly evident in the context of the transforming economies in Eastern Europe and the republics of the former Soviet Union. Against this background, this paper assesses various auction techniques to price and allocate government securities, refinance credit, foreign exchange, and state assets in the context of privatization programs. Before making our recommendations on the appropriate format for auctioning these items, the paper explains basic auction formats and assesses the advantages and disadvantages of these formats drawing on the existing, and mostly theoretical, literature.
Author: Kelsey B. Gardner
Publisher:
ISBN:
Category : Agricultural cooperative credit associations
Languages : en
Pages : 104
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Book Description
Author: Marques Vickers
Publisher: Marquis Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 79
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Book Description
“Making Live Auctions Pay: Explosive Profit From Auctions and E-Commerce Reselling” is the easy-to-follow guide offers detailed and practical advice on successfully buying, consigning and e-commerce reselling of valuables and inventories through live regional auction houses. The edition’s straightforward language introduces little known profit outlets and potential passive income streams and through the lucrative, fast-paced industry of auction buying and selling. Author Marques Vickers cuts through the traditional misconceptions surrounding auctions and simplifies the process of buying with the purpose of reselling exclusively for profit. ecommerce reselling, sales outlets and resources are explained in detail. Entrepreneurs and selling beginners seeking financial independence and freedom can easily grasp the hidden explosive income and passive goldmine potential auction houses may provide. The book stresses obstacles that author overcame in learning how to buy and sell knowledgeably. Proven strategies and steps create a blueprint for success for individuals seeking innovative primary and secondary sources of income. Vickers shares his experience and observations directly from the auction floor and behind the computer monitor. His online store Marquis Gallery sells rare books, fine art and collectibles. Auction houses have become a staple source for his operations to acquire inventory for e-commerce and passive income sales outlets. "Making Auctions Pay" concisely breaks down the elements of how regional auction houses operate. The book simply defines staple auction terms including appraisals, value estimations, bidding options, strategies and increments, previews and advance research, reserves, buyer and seller premiums, warranties, shipping and delivery options. An extensive database of website resources and references is included along with a glossary of relevant auction industry and online usage terms. The book stresses proven ecommerce sales strategies for reselling auction purchases. Emphasis is concentrated on optimizing selling exposure through major and innovative online ecommerce outlets including eBay, Amazon, Etsy, Craigslist and Barter Exchanges as well as direct selling vehicles such as consignment shops and estate liquidation services. eBay and Amazon’s proactive consumer marketing programs are showcased stressing their innovative seller promotional and marketing tools for success. Cultivating positive buyer feedback from even difficult customers is emphasized as critical to longevity and cultivating additional passive income ideas. Other distinctive chapters focus on selling precious metals, their derivative products and fine jewelry. “Making Auctions Pay,” emphasizes how global Internet exposure, technological advances and easily employed live bidding applications have distinctly changed auctions and live auctioneers. Online bidding has radically expanded the worldwide base of auction participants and opened explosive new income opportunities. Broader participation has also introduced complicated ethical issues involving authenticity, non-paying and shill bidders, shared marketing data, sales tax legislation and collusion. The book’s clear and practical instruction empowers both novice and seasoned professional to maximize their selling potential. Dynamic opportunities continue to broaden. With the phenomenal television following for programs such as Antique Roadshow, Storage Wars and Pawn Stars, a substantial demand for understanding the hidden potential of auctions already exists. “Making Auctions Pay” is an essential reference book for enabling individuals to expand their financial resources and destiny.
