Foundations of Auction Theory and Mechanism Design

Instructors

MARSZALEC Daniel Janusz

Term / Language / Credits

S1S2 / English / 2

Objectives

This course explores various aspects of auction theory and mechanism design. The aim is to give the participants a broad overview of the applicability of auction-based methods both in the context of academic research as well as practical implementation.

Keywords

Auction theory, mechanism design, applied microeconometrics, experimental economics

Schedule

Topics covered will include:

- Basic theory of single-unit auctions (private and common values)
- The revelation principle and the revenue equivalence theorem
- Multi-unit auctions, the VCG-mechanism
- Continuous-demand models (uniform, discriminatory etc.)
- Static and dynamic package auctions
- Empirical research into auctions
- Experiments in auctions
- Practical applications of auctions

Teaching Methods

Lectures

Grading

Final examination.

Required Textbook

TBA

Reference Books

TBA

Related Resources

Course Catalog 2015-2016