Wirtschaftswissenschaftliche Fakultät

Lectures


Auction Theory & Market Design

Wintersemester 2011/2012

When

Th. 16 - 20

Where

 SPA 1, 125

Instructor

Prof. Dr. Elmar Wolfstetter

Prerequisites

Good background in micro theory, a bit of game theory, and basic knowledge of calculus and probability, and of course an open mind and a willingness to deal with technical issues.

Grading

The grade is based on a written exam, oral participation in class, and presentations of homework assignments.

Description

This course is for students of economics or management in the Master´s program or in the regular "Hauptstudium". It is a "Wahplfichtveranstaltung" in which you earn 4 credits in economic theory (Wirtschaftstheorie) resp. 6 credits for MEMS students.

Sprechstunden/Kontakt

Prof. Dr. Elmar Wolfstetter

SPA 1, Raum 116. Tel: 2093-5652/-3, Sprechstunde: Montag 14 - 16 Uhr.

Luke Hu, M.Sc.

SPA 1, Raum 115, Tel: 2093-5657, Sprechstunde: Dienstag 13 - 15 Uhr.

Literature

I will use the book by Vijai Krishna as the main text, supplemented with articles, and chapters of other books

  • Vijai Krishna: Auction Theory. Academic Press 2002.

  • Elmar Wolfstetter: Topics in Microeconomics. Cambridge University Press 1999. Chapter 8.

    • Test and Grades

    You earn 4 credit points in this 4-hour course, and 6 credits in the MEMS program.

    Final exam will take place on TBA. Make-up exam will take place on TBA.

    In order to earn a passing grade, you must have a passing grade (4.0 or better) in the written exam.

    Oral participation is also graded; it can improve your grade (counting up to 25% of the overall grade).

    In order to take the exam you have to register at the "Prüfungsamt" before TBA. You must meet the deadline of the "Prüfungsamt". The deadline is firm. We are not responsible for the correctness of this info, as schedules are subject to change. Please check with the "Prüfungsamt".

     

    Very Brief Outline

    Auction theory is a very active field, with many applications. Auctions are a very old allocation mechanism. Some recent auctions that drew a lot of public attention were the auctions of radio spectrum for use in mobile telephony, such as the UMTS-auction in Germany.

    The purpose of the course is to introduce you to the modern game theoretic auction literature, and to enable you to follow current research.

    Detailed Course Outline and Downloadable Slides, Moodle

    Click here to downlaod the Slides in Moodle system

    Attention: If you still have no account in Moodle, you need to register at first.

     

    Software

    Acrobat Reader herunterladen

    Power Point Viewer herunterladen

    Mathematica Player herunterladen

    Links

    amann • ausubel back • baye bose • bulow • cramton engelbrecht-wiggans • von der fehr julien • kahn • katzman • klemperer • kovenock • krishna • landsberger • leininger • lengwiler • maskin mcadams • mcafee • mcmillan • menezes • milgrom • moldovanu • monteiro • myerson • nyborg • perry • pesendorfer • reny • riley schmidt • swinkels • vickrey • viswanathan • de vries wang • wilson • wolfstetter • zamir • zender — http://ideas.uqam.ca/ideas/data/JEL/D44.html

    John G. Riley maintains a list of Links to various sites where you can actually play an auction (for fun or business).