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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. Aimed at graduate students and professionals in economics, the book gives the 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.

Microeconomics --- Auctions --- Mathematical models --- Mathematical models. --- Business, Economy and Management --- Economics --- Privatization. --- Denationalization --- Privatisation --- Contracting out --- Corporatization --- Government ownership --- Dutch auctions --- Vendues --- Bailments --- Commercial law --- 303.8 --- 305.6 --- 305.971 --- AA / International- internationaal --- Econometrische behandeling van een onderwerp --- Risicotheorie, speltheorie. Risicokapitaal. Beslissingsmodellen --- Speciale gevallen in econometrische modelbouw --- Auction theory. --- Game theory --- Auctions - Mathematical models --- Money market. Capital market

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Anders Åslund foresaw the collapse of the Soviet Union in his book Gorbachev's Struggle for Economic Reform (1989). He depicted the success of Russia's market transformation in How Russia Became a Market Economy (1995). After Russia's financial crisis of 1998, Åslund insisted that Russia had no choice but to adjust to the world market (Building Capitalism, 2001), though most observers declared the market economic experiment a failure. Why did Russia not choose Chinese gradual reforms? Why are the former Soviet countries growing much faster than the Central European economies? How did the oligarchs arise? Who is in charge now? These are just some of the questions answered in How Capitalism Was Built, covering twenty-one former communist countries from 1989 to 2006. Anybody who wants to understand the confusing dramas unfolding in the region and to obtain an early insight into the future will find this book useful and intellectually stimulating.

330.342.14 --- 330.342.15 --- Post-communism --- -Privatization --- -330.947 --- Denationalization --- Privatisation --- Contracting out --- Corporatization --- Government ownership --- Postcommunism --- World politics --- Communism --- Kapitalistische economie. Free enterprise. Markteconomie. Vrije concurrentie --- Centraal geleide economie. Socialistische economie. Communistische economie --- Former communist countries --- -Former communist countries --- -Former Soviet bloc --- Second world (Former communist countries) --- Communist countries --- Economic conditions --- Economic policy --- Privatization --- Economic policy. --- CommunismKapitalistische economie. Free enterprise. Markteconomie. Vrije concurrentie --- Centraal geleide economie. Socialistische economie. Communistische economieFormer communist countries --- Communist countriesEconomic conditions --- Economic conditions. --- -Economic conditions --- 330.342.15 Centraal geleide economie. Socialistische economie. Communistische economie --- 330.342.14 Kapitalistische economie. Free enterprise. Markteconomie. Vrije concurrentie --- Central Asia --- 330.947 --- Former Soviet bloc --- Economic order --- Russia --- Eastern and Central Europe --- Business, Economy and Management --- Economics --- Anciens pays communistes --- POST-COMMUNISME --- anciens pays communistes --- situation économique --- situation sociale