Advances in Auctions

Paper number: 14/05

Paper date: March 2014

Year: 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.

Advances in Auctions Advances in Auctions