Auction Theory (Hardcover)

by Vijay Krishna (Author) "We begin the formal analysis by considering equilibrium bidding behavior in the four common auction forms in an environment with independently and identically distributed private..." (more)
Key Phrases: revenue equivalence principle, common auction forms, likelihood ratio dominance (more...)

Editorial Reviews

Review
"Vijay Krishna's book provides a very thorough and patient presentation of auction theory, starting from the most basic analysis and graduating to sophisticated, state of the art theory, including multi-unit auctions. This book covers a very wide range of auction topics, providing a clear and accessible treatment. The theory is presented in a careful and easily understood style accessible to honors undergraduates as well as all economics graduate students. Krishna's book will certainly become the central book on auction theory."
--R. Preston McAfee, Murray S. Johnson Chair in Economics, University of Texas
"This book not only sets out much of the theoretical literature on auctions--including results that are very recent--but does so with a clarity, elegance, and rigor that is characteristic of Vijay Krishna's work."
--Eric Maskin, A.O. Hirschman Professor of Social Science, Institute for Advanced Study, Princeton, New Jersey, U.S.A.
"The book gives a superb presentation of auction theory, with clear and concise proofs of all results. It is essential reading for any serious student of auctions."
--Peter Cramton, Professor of Economics, University of Maryland
"This is the book we have been waiting for: a high level treatment of auction theory that carefully presents the technical details necessary for an in depth understanding of the main themes of auction theory, ideal as a basis for a graduate course, and by an author who has himself made important contributions to the subject."
--Paul Klemperer, Edgeworth Professor of Economics, Nuffield College, University of Oxford, U.K. -- Review

Review
"Vijay Krishna's book provides a very thorough and patient presentation of auction theory, starting from the most basic analysis and graduating to sophisticated, state of the art theory, including multi-unit auctions. This book covers a very wide range of auction topics, providing a clear and accessible treatment. The theory is presented in a careful and easily understood style accessible to honors undergraduates as well as all economics graduate students. Krishna's book will certainly become the central book on auction theory."
--R. Preston McAfee, Murray S. Johnson Chair in Economics, University of Texas
"This book not only sets out much of the theoretical literature on auctions--including results that are very recent--but does so with a clarity, elegance, and rigor that is characteristic of Vijay Krishna's work."
--Eric Maskin, A.O. Hirschman Professor of Social Science, Institute for Advanced Study, Princeton, New Jersey, U.S.A.
"The book gives a superb presentation of auction theory, with clear and concise proofs of all results. It is essential reading for any serious student of auctions."
--Peter Cramton, Professor of Economics, University of Maryland
"This is the book we have been waiting for: a high level treatment of auction theory that carefully presents the technical details necessary for an in depth understanding of the main themes of auction theory, ideal as a basis for a graduate course, and by an author who has himself made important contributions to the subject."
--Paul Klemperer, Edgeworth Professor of Economics, Nuffield College, University of Oxford, U.K.





See all Editorial Reviews

Product Details

• Hardcover: 316 pages
• Publisher: Academic Press; 1st edition (March 1, 2002)
• Language: English
• ISBN-10: 012426297X
• ISBN-13: 978-0124262973
• Product Dimensions: 9 x 5.9 x 0.8 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 4.0 out of 5 stars See all reviews (5 customer reviews)
• Amazon.com Sales Rank: #371,164 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

6 of 7 people found the following review helpful:

5.0 out of 5 stars The Best, May 3, 2006

By	Sergio O. Parreiras "Sergio Parreiras" (Chapel Hill, NC United States) - See all my reviews (REAL NAME)

This is the best auction _theory_ book.
Any PhD student in economics or coorporate finance
should read it. Notice that if you are ONLY interested in
real-life auctions and not on the game theory behind
auction theory this book is not for you.

3 of 3 people found the following review helpful:

5.0 out of 5 stars Accessible and straightforward. Thumbs up!, October 17, 2005

By	Georgios (Toronto, Canada) - See all my reviews

A balance between rigor and intuition. The book contains complete and clear proofs of almost all propositions and many- many fully-worked examples to reinforce intuition. The "chapter notes" provide with plenty further reading and the seven appendices at the end of the book cover lots of essential background. For those who are interested in auction theory and seek a rigorous treatment that at the same time is not intimidating, I highly recommend this book. After all, as Vijay Krishna states in the preface, "...the book is intended to be a conversation between the author and the reader".

7 of 9 people found the following review helpful:

5.0 out of 5 stars Clear, Rigorous and Intuitive, November 11, 2003

By A Customer

This is a fabulous book for quickly uploading the central insights of the vast literature on the economics of auction design. Results are stated precisely and proven, often with an eye for developing intuition and an understanding of technique. The book can be read from cover to cover or dipped into as required. I find it an extremely useful aid to research.
Highly recommended.