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Money. Monetary policy --- Money. --- Money --- Currency --- Monetary question --- Money, Primitive --- Specie --- Standard of value --- Exchange --- Finance --- Value --- Banks and banking --- Coinage --- Currency question --- Gold --- Silver --- Silver question --- Wealth

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Money --- -Currency --- Monetary question --- Money, Primitive --- Specie --- Standard of value --- Exchange --- Finance --- Value --- Banks and banking --- Coinage --- Currency question --- Gold --- Silver --- Silver question --- Wealth --- History --- History. --- -History

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Few forms of market exchange intrigue economists as do auctions, whose theoretical and practical implications are enormous. John Kagel and Dan Levin, complementing their own distinguished research with papers written with other specialists, provide a new focus on common value auctions and the "winner's curse." In such auctions the value of each item is about the same to all bidders, but different bidders have different information about the underlying value. Virtually all auctions have a common value element; among the burgeoning modern-day examples are those organized by Internet companies such as eBay. Winners end up cursing when they realize that they won because their estimates were overly optimistic, which led them to bid too much and lose money as a result. The authors first unveil a fresh survey of experimental data on the winner's curse. Melding theory with the econometric analysis of field data, they assess the design of government auctions, such as the spectrum rights (air wave) auctions that continue to be conducted around the world. The remaining chapters gauge the impact on sellers' revenue of the type of auction used and of inside information, show how bidders learn to avoid the winner's curse, and present comparisons of sophisticated bidders with college sophomores, the usual guinea pigs used in laboratory experiments. Appendixes refine theoretical arguments and, in some cases, present entirely new data. This book is an invaluable, impeccably up-to-date resource on how auctions work--and how to make them work.

Auctions --- Paradoxes --- Value --- 381.17 --- Standard of value --- Cost --- Economics --- Exchange --- Wealth --- Prices --- Supply and demand --- Dutch auctions --- Vendues --- Bailments --- Commercial law --- Auctions. --- Paradoxes. --- Value. --- E-books

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Coinage and currency-abstract and socially created units of value and power-were basic to early modern society. By controlling money, the people sought to understand and control their complex, expanding, and interdependent world. In Making Money in Sixteenth-Century France, Jotham Parsons investigates the creation and circulation of currency in France. The royal Cour des Monnaies centralized monetary administration, expanding its role in the emerging modern state during the sixteenth century and assuming new powers as an often controversial repository of theoretical and administrative expertise. The Cour des Monnaies, Parsons shows, played an important role in developing the contemporary understanding of money, as a source of both danger and opportunity at the center of economic and political life. More practically, the Monnaies led generally successful responses to the endemic inflation of the era and the monetary chaos of a period of civil war. Its work investigating and prosecuting counterfeiters shone light into a picaresque world of those who used the abstract and artificial nature of money for their own ends. Parsons's broad, multidimensional portrait of money in early modern France also encompasses the literature of the age, in which money's arbitrary and dangerous power was a major theme.

Money --- Currency --- Monetary question --- Money, Primitive --- Specie --- Standard of value --- History --- Exchange --- Finance --- Value --- Banks and banking --- Coinage --- Currency question --- Gold --- Silver --- Silver question --- Wealth --- E-books

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Money --- -Currency --- Monetary question --- Money, Primitive --- Specie --- Standard of value --- Exchange --- Finance --- Value --- Banks and banking --- Coinage --- Currency question --- Gold --- Silver --- Silver question --- Wealth --- History