Discovering Prices: Auction Design in Markets with Complex Constraints


Ebook Discovering Prices: Auction Design in Markets with Complex Constraints by Paul R Milgrom Book Title: Discovering Prices: Auction Design in Markets with Complex Constraints
The size of the: 2 MB
Edition: Otava
Date of issue: 2005
ISBN: No data
ISBN 13: No data
The author of the book:Paul R Milgrom
Language: English
Format files: PDF

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Traditional economic theory studies idealized markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smiths famous concept of an invisible hand, which guides markets and renders regulation or interference largely unnecessary. Yet for many markets, prices alone are not enough to guide feasible and ef

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