{"product_id":"auctions-9780262528535","title":"Auctions","description":"\u003cb\u003eHow auctions work, in theory and practice, with clear explanations and real-world examples that range from government procurement to eBay.\u003c\/b\u003e\u003cp\u003eAlthough it is among the oldest of market institutions, the auction is ubiquitous in today's economy, used for everything from government procurement to selling advertising on the Internet to course assignment at MIT's Sloan School. And yet beyond the small number of economists who specialize in the subject, few people understand how auctions really work. This concise, accessible, and engaging book explains both the theory and the practice of auctions. It describes the main auction formats and pricing rules, develops a simple model to explain bidder behavior, and provides a range of real-world examples.\u003c\/p\u003e\u003cp\u003eThe authors explain what constitutes an auction and how auctions can be modeled as games of asymmetric information--that is, games in which some players know something that other players do not. They characterize behavior in these strategic situations and maintain a focus on the real world by illustrating their discussions with examples that include not just auctions held by eBay and Sotheby's, but those used by Google, the U.S. Treasury, TaskRabbit, and charities. Readers will begin to understand how economists model auctions and how the rules of the auction shape bidder incentives. They will appreciate the role auctions play in our modern economy and understand why these selling mechanisms are so resilient.\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e \u003ca href=\"https:\/\/sureshotbooks-com.myshopify.com\/search?type=product%2Carticle%2Cpage\u0026amp;q=AUTH-16608878\"\u003eTimothy P. Hubbard\u003c\/a\u003e, \u003ca href=\"https:\/\/sureshotbooks-com.myshopify.com\/search?type=product%2Carticle%2Cpage\u0026amp;q=AUTH-16608880\"\u003eHarry J. Paarsch\u003c\/a\u003e\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e MIT Press\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 01\/06\/2016\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 264\u003cbr\u003e\u003cb\u003eBinding Type:\u003c\/b\u003e Paperback\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 0.50lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 7.10h x 5.00w x 0.50d\u003cbr\u003e\u003cb\u003eISBN13:\u003c\/b\u003e 9780262528535\u003cbr\u003e\u003cb\u003eISBN10:\u003c\/b\u003e 0262528533\u003cbr\u003e\u003cb\u003eBISAC Categories:\u003c\/b\u003e\u003cbr\u003e- \u003ca href=\"https:\/\/sureshotbooks-com.myshopify.com\/search?type=product%2Carticle%2Cpage\u0026amp;q=CAT-BUS\"\u003eBusiness \u0026amp; Economics\u003c\/a\u003e | \u003ca href=\"https:\/\/sureshotbooks-com.myshopify.com\/search?type=product%2Carticle%2Cpage\u0026amp;q=BISAC-BUS073000\"\u003eCommerce\u003c\/a\u003e\u003cbr\u003e- \u003ca href=\"https:\/\/sureshotbooks-com.myshopify.com\/search?type=product%2Carticle%2Cpage\u0026amp;q=CAT-BUS\"\u003eBusiness \u0026amp; Economics\u003c\/a\u003e | \u003ca href=\"https:\/\/sureshotbooks-com.myshopify.com\/search?type=product%2Carticle%2Cpage\u0026amp;q=BISAC-BUS023000\"\u003eEconomic History\u003c\/a\u003e\u003cbr\u003e- \u003ca href=\"https:\/\/sureshotbooks-com.myshopify.com\/search?type=product%2Carticle%2Cpage\u0026amp;q=CAT-BUS\"\u003eBusiness \u0026amp; Economics\u003c\/a\u003e | \u003ca href=\"https:\/\/sureshotbooks-com.myshopify.com\/search?type=product%2Carticle%2Cpage\u0026amp;q=BISAC-BUS057000\"\u003eIndustries | Retailing\u003c\/a\u003e\u003cbr\u003e\u003cbr\u003e\u003cp\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003eTimothy P. Hubbard is Assistant Professor of Economics at Colby College. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003eAfter initial appointments at the University of British Columbia and the University of Western Ontario, Harry J. Paarsch held the position of Professor of Economics and Robert Jensen Research Fellow in the Henry B. Tippie College of Business at the University of Iowa and subsequently Chair in Economics at the University of Melbourne. From 2011 to 2014, he worked as an applied economist and data scientist for Amazon.com.","brand":"MIT Press","offers":[{"title":"Default Title","offer_id":44716729368813,"sku":"9780262528535","price":15.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0550\/8097\/6621\/products\/img_4051134b-40a7-4f4e-b3a8-cc19a84d0c08.jpg?v=1704144171","url":"https:\/\/sureshotbooks.com\/es\/products\/auctions-9780262528535","provider":"SureShot Books Publishing LLC","version":"1.0","type":"link"}