Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    Auctions
    Auctions
    Auctions
    Audiobook5 hours

    Auctions

    Written by Timothy P. Hubbard and Harry J. Paarsch

    Narrated by Sean Pratt

    5/5

    ()

    About this audiobook

    Although it is among the oldest of market institutions, the auction is ubiquitous in today's economy, used for everything from government procurement to selling advertising on the Internet to course assignment at MIT's Sloan School. And yet beyond the small number of economists who specialize in the subject, few people understand how auctions really work. This concise, accessible, and engaging book explains both the theory and the practice of auctions. It describes the main auction formats and pricing rules, develops a simple model to explain bidder behavior, and provides a range of real-world examples.

    The authors explain what constitutes an auction and how auctions can be modeled as games of asymmetric information -- that is, games in which some players know something that other players do not. They characterize behavior in these strategic situations and maintain a focus on the real world by illustrating their discussions with examples that include not just auctions held by eBay and Sotheby's, but those used by Google, the U.S. Treasury, TaskRabbit, and charities. Listeners will begin to understand how economists model auctions and how the rules of the auction shape bidder incentives. They will appreciate the role auctions play in our modern economy and understand why these selling mechanisms are so resilient.
    LanguageEnglish
    PublisherAscent Audio
    Release dateFeb 1, 2016
    ISBN9781469003375
    Auctions

    Related to Auctions

    Related audiobooks

    Economics For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      How AI Amplifies Human Competencies

      Jan 1, 2020

      Not everyone is on board with AI and machine learning. None other than Elon Musk has suggested that it might lead to World War III. What is your take on the situation? You’re absolutely right that there is a huge amount of alarmism and ‘automation an

      5 min read

    • Article

      Using The Archives

      Sep 16, 2022

      It hard to believe, but in the mid-1990s there was no such thing as electronic auction records for collectors or dealers to search before making a purchase. There were quite a few price guides for US and World Coins, but most contained information th

      3 min read

    • Article

      Realtor Talk

      May 21, 2022

      Realtor Talk
      4 min read

    • Article

      Is A Guaranteed sale Fair?

      Jan 25, 2024

      THE GLOBAL ART MARKET is worth about $60-70bn annually, and the two major international auction houses turn over about $12bn between them each year: there is usually a few million dollars’ worth separating each. Christie’s turned over $6.2bn last yea

      3 min read

    • Article

      This is How The Stamp Trade Works

      Aug 13, 2021

      1 If You want to learn how the stamp trade 1 works, please read on… When I was 15, I did. I wondered if there was some secret source of supply? So, I bought my 1st stamp mixture, (wholesale I thought), broke it into 50 smaller units, advertised it in

      10 min read

    • Article

      Gift Token

      Aug 9, 2021

      Gift Token
      5 min read

    • Article

      What A Picture!

      May 4, 2022

      What A Picture!
      4 min read

    • Article

      Acquiring Coins

      Jul 19, 2021

      Acquiring Coins
      7 min read

    • Article

      Acquiring Coins

      Dec 19, 2022

      Acquiring Coins
      7 min read

    • Article

      Acquiring Coins

      Dec 3, 2019

      Acquiring Coins
      7 min read

    • Article

      This is How The Stamp Trade Works

      Jun 11, 2021

      1▶ If You want to learn how the stamp trade works, please read on… When I was 15, I did. I wondered if there was some secret source of supply? So, I bought my 1st stamp mixture, (wholesale I thought), broke it into 50 smaller units, advertised it in

      10 min read

    • Article

      Don’t Tell Your Friends They’re Lucky: Luck has a lot to do with success. We just don’t want to admit it.

      Jan 19, 2017

      Cornell professor of economics Robert Frank says he’s alive today because of “pure dumb luck.” In 2007, he collapsed on a tennis court, struck down by what was later diagnosed as a case of sudden cardiac death, something only 2 percent of victims sur

      14 min read

    • Article

      Acquiring Coins

      Mar 16, 2020

      Circulation finds. Pulling coins out of circulation is a time-proven method of getting started. There is a wide variety of coinage in circulation, and the quickest way to become acquainted with it is to go through your change coin by coin. When you p

      7 min read

    • Article

      Acquiring Coins

      Jun 15, 2020

      Circulation finds. Pulling coins out of circulation is a time-proven method of getting started. There is a wide variety of coinage in circulation, and the quickest way to become acquainted with it is to go through your change coin by coin. When you p

      7 min read

    • Article

      When Money’$ Not Enough

      May 5, 2020

      When Money’$ Not Enough
      11 min read

    • Article

      The Final Word: LOUPE THIS

      Aug 20, 2021

      Looking for a new place to hang out and discuss watches? With the seeming death of most watch forums and with ennui around Instagram, the watch community is ready for a new place to talk about tickers and waffle about watches. Step forward Loupe This

      3 min read

    • Article

      Flesh And Spirit And Advanced Lessons For Buying At Auction

      Sep 1, 2018

      The fracas leading up to and after Sotheby’s New York sale this year, of Jean-Michel Basquiat’s 1983 mixed-media work, Flesh and Spirit, highlights basic lessons that every collector must learn. The four-panel canvas, bestowed with not one, but two s

      3 min read

    • Article

      The VW Market

      Oct 8, 2019

      The VW Market
      4 min read

    • Article

      9 Secrets to Making More Money on Your eBay Auctions

      Aug 1, 2018

      Maybe you found your son's old Pokémon cards in a box in your basement. Or perhaps you ordered a professional camera, but you realize you have no time to use it. It's time to de-clutter, and you want this stuff - valuable stuff to somebody out there

      5 min read

    • Article

      Trash to Treasure

      Nov 23, 2023

      Recently, Zhong Xiaoli, a 29-year-old white-collar in Beijing, sold her 35th item on Xianyu (literally translated as Idle Fish), an online platform for secondhand items owned by Chinese tech giant Alibaba Group. Since she first started using the app

      4 min read

    • Article

      Choose Your Auction

      Aug 2, 2018

      Choose Your Auction
      6 min read

    • Article

      Letters

      Apr 23, 2021

      I’m thrilled to see the United States recognized with the Coin of the Year honors! The Apollo 11 commemorative coin program was one of the most popular, successful and beautiful series of coins issued by the Mint in a long time, and the half dollar i

      2 min read

    • Article

      Too Many Auctions, Just Right, Or Too Few?

      Aug 2, 2022

      ONE of the impacts of the Covid pandemic on active railwayana collectors was the end of the tried and trusted auction scene that had been the backbone of the movement for decades. Almost in an instant, saleroom sales ceased and the internet became t

      2 min read

    • Article

      There Is Too Much Stuff

      May 24, 2019

      There Is Too Much Stuff
      5 min read

    Related categories

    Reviews for Auctions

    5/5

    1 rating0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words