Auctions - A Survey

Abstract

The importance of auction theory has gained increased recognition in the scientific community, the latest recognition being the award of the Nobel price to Vickrey and Mirrlees. Auction theory has been used in quite different fields, both theoretically and empirically. This paper connects recent developments in theoretical and empirical works, providing a survey about theoretical, empirical, and experimental results.Auction Theory, Information and Uncertainty, Asymmetric and Private Information