Description:
The course will provide an introduction to the core concepts of auction theory. The learning experience will be enriched with case studies from auctions in the lab and in the field. Successful participants can solve optimal-bidding problems in standard auction forms, using advanced mathematical techniques. They first model the informational environment in a given application, using probability theory, and, second, use optimization theory to find optimal bidding strategies. Insights from mechanism design will enable them to design and solve novel auction formats. They learn to model both roles in seller-buyer environments.
Literature:
Vijay Krishna - Auction Theory, Academic Press, 2009
Time & venue:
Lectures: Tuesdays, 14:00-16:00; TU Berlin, Ernst-Reuter-Platz 1, room BH-N 128
Tutorials: Tuesdays, 16:00-18:00; TU Berlin, Straße des 17. Juni 135, room H 7112
Exam:
Written exam (90 min)
