Advances in Auctions
Paper number: 14/05
Paper date: March 2014
Paper Category: Discussion Paper
Todd R. Kaplan and Shmuel Zamir
As a selling mechanism, auctions have acquired a central position in the free market economy all over the globe. This development has deepened, broadened, and expanded the theory of auctions in new directions. This chapter is intended as a selective update of some of the developments and applications of auction theory in the two decades since Wilson (1992) wrote the previous Handbook chapter on this topic.