?What Really Matters in Auction Design? Paul Klemperer, Journal of Economic Perspectives, 2002.

?What Really Matters in Auction Design? Paul Klemperer, Journal of Economic Perspectives,
2002.

Order Description

The first question specifies which
parts of the paper you are expected to read, and asks for a general summary. I imagine that
an adequate summary will take approximately one half to one full typed, single-spaced page
of text. In addition to summarizing the reading in your own words, you should answer each
of the other questions ? depending on the question, a complete answer may take a sentence
or a full paragraph.
?What Really Matters in Auction Design? Paul Klemperer, Journal of Economic Perspectives,
2002.
(a) Read the entire paper, and write your own summary.
(b) List some drawbacks and some advantages of ascending auctions, from a practical
auction design perspective.
(c) List some drawbacks and some advantages of sealed-bid auctions, from a practical
auction design perspective.
(d) Describe the Anglo-Dutch auction rules.
(e) In what circumstances will the design of an auction be less important?