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Abstract: Introduction An annoyingly prevalent view among economists can be summarized as "the market will take care if it, if permitted to do so." It doesn't seem to matter what the market is supposed take care of, the "it," in my summary. Another way of stating this view is that market design doesn't matter. A version of this view is the so-called Coase theorem: that markets can solve problems of externalities, and will lead to the efficient allocation of resources. There are many circumstances where... (Update)
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BibTeX entry: (Update)
@misc{ mcafee-four,
author = "R. Preston McAfee",
title = "Four Issues in Auctions and Market Design",
url = "citeseer.ist.psu.edu/mcafee98four.html" }
Citations (may not include all citations):156 Auctions and Bidding (context) - McAfee - 1987
105 The Theory of Industrial Organization (context) - Jean - 1988
99 A Theory of Auctions and Competitive Bidding (context) - Paul, Weber - 1982
74 Analyzing the Airwaves Auction - McAfee - 1996
38 Efficient Mechanisms for Bilateral Trading (context) - Roger, Satterthwaite - 1983
36 Optimal Auction Design (context) - Roger - 1981
26 The Market for 'Lemons': Quality Uncertainty and Market Mech.. (context) - George - 1970
8 Auctions vs. Negotiations (context) - Jeremy, Klemperer - 1996
8 Horizontal Mergers: An Equilibrium Analysis (context) - Joseph, Shapiro - 1990
7 American Economic Review (context) - Phillipe, Moldovanu et al. - 1996
6 Rigging the Lobbying Process: an Application of the All-Pay .. (context) - Michael - 1993
5 Efficient Sequential Bargaining (context) - Lawrence, Ray - 1993
5 The Economics of Competitive Bidding: A Selective Survey (context) - Paul - 1985
3 Updating the Reserve Price in Common Value Auctions (context) - McAfee - 1992
3 Auctioning Entry into Tournaments (context) - Richard, McAfee - 1997
2 How to Set Minimum Acceptable Bids, with an Application to R.. (context) - McAfee - 1997
2 A Binary Conflict Ascending Price Mechanism for the Decentra.. (context) - Paul, Plott - 1996
1 Convergence to Efficiency in Double Auctions (context) - Jiong, McAfee - 1996
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