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auction theory

Essays tagged “auction theory”. Follow an idea across the archive.

Essays on auction theory

2 essays

Jul 24, 2012LW

Game Theory As A Dark Art

Scott presents six game theory scenarios demonstrating how strategic thinking can force rational actors into seemingly irrational outcomes, ranging from theoretical examples like evil plutocrats and hostile takeovers to real-world applications like dollar auctions and the Golden Balls game show.

26 min read 3,915 words

Jul 15, 2012LW

Bargaining and Auctions

Scott explains the economics of bargaining and auctions, showing how prices emerge from negotiations between buyers and sellers when both parties lack perfect information about supply and demand.

15 min read 2,248 words

auction theory bargaining economics