Understanding Auctions

Book Details

• Publisher: Routledge

• Author: Srobonti Chattopadhyay

• Language: English

• Edition: First Edition

• ISBN: 9780367437350

• Pages: 108

• Cover: Paperback

About The Book

This book offers an insightful exploration of auction theory in a simple and accessible language, designed for readers without a technical background in economics or related fields. Auctions, as allocation mechanisms, have been utilized globally for centuries, and their effectiveness continues to be recognized across various sectors—from government transactions to private sales.

Auction theory is gaining popularity due to its precision, minimal subjectivity in comparison to other allocation methods, and efficiency in determining buyers' true willingness to pay. Beyond the context of traditional auctions, the principles discussed in this book also find applications in diverse areas such as designing contests and managing environmental policies, including the allocation of emission permits and licenses.

This first edition is an excellent resource for anyone looking to understand the basic principles of auctions and their wide-ranging impact on modern economic systems, governance, and business operations.