Universität Wien
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040831 UK Auction Theory and Applications (MA) (2016S)

8.00 ECTS (4.00 SWS), SPL 4 - Wirtschaftswissenschaften
Continuous assessment of course work

http://homepage.univie.ac.at/ana-begona.ania-martinez/teaching_auctions.html
Moodle

Registration/Deregistration

Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).

Details

max. 25 participants
Language: English

Lecturers

Classes (iCal) - next class is marked with N

Midterm on April 25th at 9.45 a.m. Final on June 28th at 8.00 a.m.

  • Tuesday 01.03. 08:00 - 09:30 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Monday 07.03. 09:45 - 11:15 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 08.03. 08:00 - 09:30 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Monday 14.03. 09:45 - 11:15 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 15.03. 08:00 - 09:30 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Monday 04.04. 09:45 - 11:15 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 05.04. 08:00 - 09:30 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Monday 11.04. 09:45 - 11:15 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 12.04. 08:00 - 09:30 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Monday 18.04. 09:45 - 11:15 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 19.04. 08:00 - 09:30 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Monday 25.04. 09:45 - 11:15 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 26.04. 08:00 - 09:30 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Monday 02.05. 09:45 - 11:15 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 03.05. 08:00 - 09:30 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Monday 09.05. 09:45 - 11:15 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 10.05. 08:00 - 09:30 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Monday 23.05. 09:45 - 11:15 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 24.05. 08:00 - 09:30 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Monday 30.05. 09:45 - 11:15 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 31.05. 08:00 - 09:30 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Monday 06.06. 09:45 - 11:15 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 07.06. 08:00 - 09:30 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Monday 13.06. 09:45 - 11:15 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 14.06. 08:00 - 09:30 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Monday 20.06. 09:45 - 11:15 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 21.06. 08:00 - 09:30 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Monday 27.06. 09:45 - 11:15 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock
  • Tuesday 28.06. 08:00 - 09:30 Seminarraum 13 Oskar-Morgenstern-Platz 1 2.Stock

Information

Aims, contents and method of the course

Students are introduced to the basic auction formats, they learn how to compute equilibrium bidding strategies and expected revenues for the seller, both for the case of independent private values as well as for the case of affiliated interdependent values; they are also introduced to the theory of mechanism design and optimal auctions and they get a glimpse in the practicalities of auction design by looking in some detail to existing internet auctions.

Assessment and permitted materials

Students are expected to attend and participate actively in class. They will get homework assignments that they can solve using all class materials and in discussion with other students. Two compulsory written exams will take place in the course of the semester. For the exams students are only allowed to use a scientific pocket calculator (no online devices).

Minimum requirements and assessment criteria

Prerequisites for the course are some knowledge of game theory with notions of Bayesian and sequential games, as well as some basic knowledge of probability theory, specifically the use of distribution functions and calculus of expectations.

The final grade will correspond to the sum of points in a midterm (up to 50 points) and a final exam (up to 50 points). Students are required 50 out of a 100 points to pass the class.

Regular class participation and homework assignments can improve the final grade up to 20 points.

Examination topics

Reading list

*** Vijay Krishna. Auction Theory. Academic Press.
** Paul Klemperer. Actions: Theory and Practice. Princeton University Press.
** F. Menezes and P. Monteiro. An Introduction to Auction Theory. Oxford University Press.
* Paul Milgrom. Putting Auction Theory to Work. Cambridge University Press.
* David Salant. A Primer on Auction Design, Management, and Strategy. MIT Press.

Association in the course directory

Last modified: Mo 07.09.2020 15:29