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Foreword; Preface; Acknowledgements; Contents; Acronyms; 1 Auction Basics; 1.1 Introduction; 1.2 A Brief Overview of the Evolution of Auctions; 1.3 Values, Bids, and Prices; 1.4 The Winner's Curse; 1.5 Setting a Reserve Price; 1.6 Income of the Bidder and Seller's Revenue; 1.7 Variables Used in This Chapter; 1.8 Exercises; 1.9 Solutions to Exercises; 2 Standard Single-Unit Auctions; 2.1 Introduction; 2.2 Key Factors in Auction Design; 2.3 Standard Single-Unit Auction Models; 2.3.1 Ascending-Bid Auction; 2.3.2 Descending-Bid Auction; 2.3.3 First-Price Sealed-Bid Auction
2.3.4 Second-Price Sealed-Bid Auction2.4 Bidding Strategies: Equivalences Among the Standard Single-Unit Auctions; 2.5 Revenue Equivalence Theorem; 2.6 Variables Used in This Chapter; 2.7 Exercises; 2.8 Solutions to Exercises; Appendix; 3 Other Single-Unit Auctions; 3.1 Introduction; 3.2 Anglo-Dutch Auction; 3.3 Dutch-English Auction; 3.4 Auctions with Different Pricing Rules; 3.5 Auctions with Different Closing Rules; 3.6 All-Pay Auctions; 3.6.1 War of Attrition; 3.7 Optimal Auctions and Efficient Auctions; 3.8 Variables Used in This Chapter; 3.9 Exercises; 3.10 Solutions to Exercises
4 Assigning Multiple Homogeneous Items in a Single Auction4.1 Introduction; 4.2 Multi-unit Dynamic Auctions of Homogeneous Items; 4.2.1 Multi-unit Ascending Auction of Homogeneous Items; 4.2.2 Multi-unit Descending Auction of Homogeneous Items; 4.2.3 The Ausubel Auction; 4.3 Multi-unit Sealed-Bid Auction of Homogeneous Items; 4.3.1 Discriminatory Auction; 4.3.2 Uniform-Price Auction; 4.3.3 Multi-unit Vickrey Auction of Homogeneous Items; 4.4 Bidding Strategies and Equivalences of Multi-unit Auction Formats; 4.5 Multi-unit Anglo-Dutch Auction of Homogeneous Items
4.6 Variables Used in This Chapter4.7 Exercises; 4.8 Solutions to Exercises; Appendix; 5 Sequential and Simultaneous Auctions; 5.1 Introduction; 5.2 Sequential Auctions; 5.3 Simultaneous Auctions; 5.3.1 Simultaneous Sealed-Bid Auction; 5.3.2 Simultaneous Ascending Auction; 5.3.3 Simultaneous Ascending Clock Auction; 5.4 Variables Used in This Chapter; 5.5 Exercises; 5.6 Solutions to Exercises; 6 Double Auctions; 6.1 Introduction; 6.2 Sealed-Bid Double Auction; 6.2.1 Sealed-Bid Double Auction with Uniform-Price Rule; 6.2.2 Sealed-Bid Double Auction with Discriminatory Pricing Rule
6.2.3 k-Double Auction6.3 Continuous Double Auction; 6.3.1 Synchronized CDAs; 6.3.2 Double Dutch Auction; 6.4 Variables Used in This Chapter; 6.5 Exercises; 6.6 Solutions to Exercises; 7 Introduction to Combinatorial Auctions; 7.1 Introduction; 7.2 Substitutes and Complements Items; 7.3 The Exposure Problem; 7.4 The WDP in Combinatorial Auctions; 7.5 Payments to Be Done in a Combinatorial Auction; 7.5.1 First-Price Combinatorial Auction; 7.5.2 The Vickrey-Clarke-Groves Mechanism; 7.6 Core-Selecting Package Auctions; 7.7 Variables Used in This Chapter; 7.8 Exercises; 7.9 Solutions to Exercises
2.3.4 Second-Price Sealed-Bid Auction2.4 Bidding Strategies: Equivalences Among the Standard Single-Unit Auctions; 2.5 Revenue Equivalence Theorem; 2.6 Variables Used in This Chapter; 2.7 Exercises; 2.8 Solutions to Exercises; Appendix; 3 Other Single-Unit Auctions; 3.1 Introduction; 3.2 Anglo-Dutch Auction; 3.3 Dutch-English Auction; 3.4 Auctions with Different Pricing Rules; 3.5 Auctions with Different Closing Rules; 3.6 All-Pay Auctions; 3.6.1 War of Attrition; 3.7 Optimal Auctions and Efficient Auctions; 3.8 Variables Used in This Chapter; 3.9 Exercises; 3.10 Solutions to Exercises
4 Assigning Multiple Homogeneous Items in a Single Auction4.1 Introduction; 4.2 Multi-unit Dynamic Auctions of Homogeneous Items; 4.2.1 Multi-unit Ascending Auction of Homogeneous Items; 4.2.2 Multi-unit Descending Auction of Homogeneous Items; 4.2.3 The Ausubel Auction; 4.3 Multi-unit Sealed-Bid Auction of Homogeneous Items; 4.3.1 Discriminatory Auction; 4.3.2 Uniform-Price Auction; 4.3.3 Multi-unit Vickrey Auction of Homogeneous Items; 4.4 Bidding Strategies and Equivalences of Multi-unit Auction Formats; 4.5 Multi-unit Anglo-Dutch Auction of Homogeneous Items
4.6 Variables Used in This Chapter4.7 Exercises; 4.8 Solutions to Exercises; Appendix; 5 Sequential and Simultaneous Auctions; 5.1 Introduction; 5.2 Sequential Auctions; 5.3 Simultaneous Auctions; 5.3.1 Simultaneous Sealed-Bid Auction; 5.3.2 Simultaneous Ascending Auction; 5.3.3 Simultaneous Ascending Clock Auction; 5.4 Variables Used in This Chapter; 5.5 Exercises; 5.6 Solutions to Exercises; 6 Double Auctions; 6.1 Introduction; 6.2 Sealed-Bid Double Auction; 6.2.1 Sealed-Bid Double Auction with Uniform-Price Rule; 6.2.2 Sealed-Bid Double Auction with Discriminatory Pricing Rule
6.2.3 k-Double Auction6.3 Continuous Double Auction; 6.3.1 Synchronized CDAs; 6.3.2 Double Dutch Auction; 6.4 Variables Used in This Chapter; 6.5 Exercises; 6.6 Solutions to Exercises; 7 Introduction to Combinatorial Auctions; 7.1 Introduction; 7.2 Substitutes and Complements Items; 7.3 The Exposure Problem; 7.4 The WDP in Combinatorial Auctions; 7.5 Payments to Be Done in a Combinatorial Auction; 7.5.1 First-Price Combinatorial Auction; 7.5.2 The Vickrey-Clarke-Groves Mechanism; 7.6 Core-Selecting Package Auctions; 7.7 Variables Used in This Chapter; 7.8 Exercises; 7.9 Solutions to Exercises