title: An Introduction to Auction Theory
author:  Flavio M. Menezes 
description: <br>"Despite the influence and importance of the study of auctions, the academic literature is dominated by papers that are a struggle to read. Often these papers require a high degree of mathematical sophistication and a familiarity with a large and confusing body of literature. In writing their book, <em>An Introduction to Auction Theory,</em> Flavio Menezes and Paulo Monteiro have made a substantial contribution to making this literature accessible to students and researchers."--John Asker, <em>Economic Record</em>
zlib_text: PUTTING AUCTION THEORY TO WORK
  This book provides a comprehensive introduction to modern auction theory
  and its important new applications. It is written by a leading economic theorist
  whose suggestions guided the creation of the new spectrum auction designs.
  Aimedatgraduatestudentsandprofessionalsineconomics,thebookgivesthe
  most up-to-date treatments of both traditional theories of “optimal auctions”
  and newer theories of multi-unit auctions and package auctions, and shows
  by example how these theories are used. The analysis explores the limitations
  of prominent older designs, such as the Vickrey auction design, and evaluates
  the practical responses to those limitations. It explores the tension between
  the traditional theory of auctions with a ﬁxed set of bidders, in which the seller
  seeks to squeeze as much revenue as possible from the ﬁxed set, and the theory
  of auctions with endogenous entry, in which bidder proﬁts must be respected
  to encourage participation. It shows how seemingl