An Introduction to Auction Theory

This step-by-step, self-contained introduction to the theory of auctions allows students and readers with a calculus background to work through all the basic results in auction theory. Readers will work through the basic indepent-private-model, understand the effects of introducing correlation in valuations on equilibrium behaviour and the seller's expected revenue, develop a working knowledge of mechanism design, and be introduced to the theory of multi-object auctions.