Economics · Game Theory & Mechanism Design

Auction Theory

A topic within Game Theory & Mechanism Design, itself one of 10 topics in that field and part of Economics.

Reading on Auction Theory

2 works

Paper1961

Counterspeculation, Auctions, and Competitive Sealed Tenders

William Vickrey

Shows that in a sealed-bid second-price auction, bidding one's true valuation is a dominant strategy, founding modern auction theory and explaining why first-price rules invite costly counterspeculation.

link failing as of 17 Sept 2026Notes on this copy

Economics · Game Theory & Mechanism Design

FreeAdvanced

Lecture2020

Auction Research Evolving: Theorems and Market Designs

Paul R. Milgrom

Traces auction theory from Vickrey's single-good analysis to the multi-item designs used to allocate radio spectrum, arguing market rules have to be engineered for the specific goods being sold.

link checked 17 Sept 2026

Economics · Game Theory & Mechanism Design

FreeAdvanced

Reading on Auction Theory

Counterspeculation, Auctions, and Competitive Sealed Tenders

Auction Research Evolving: Theorems and Market Designs

Other topics in Game Theory & Mechanism Design