The National Centre for Econometric Research (NCER) will hold a short course entitled, "Auction Theory" at QUT, from Wednesday 27 July to Friday 29 July 2011. If you are interested in attending, please contact the Administration Coordinator.
The lectures will be held in Room Z808, Gardens Point Campus, QUT.
Course Convener
Dr Jianpei Li, University of International Business and Economics, School of International Trade and Economics, Beijing.
Course Overview
Auctions are commonly employed in the sale of a wide variety of commodities, including art, houses, treasury bonds, spectrum, advertising slots on search results pages, etc. Starting with the seminal work of William Vickrey, much research has been devoted to understand the strategic properties of alternative auction formats. The interest in this research is not just theoretical: in recent years, auctions have been designed to transfer billion-dollar assets from the public to the private sector such as the sale of radio frequencies for wireless telecommunication purposes.
This mini-course covers basic topics (common value auctions, private value auctions, revenue equivalence, reserve prices, budget constraints, risk aversion, etc.) and discusses more advanced theory such as mechanism design (optimal auctions).
The main textbook is Auction Theory by Vijay Krishna. Links to additional material will be uploaded shortly before the lectures.
Please refer to the course outline (pdf, 21kb) for other recommended books.
Course Schedule
| Date and Time | Topic |
|---|---|
| Wednesday 27 July 10am – 12pm |
Lecture 1: Introduction to Auction Theory and Wallet Auction |
| Wednesday 27 July 2pm – 4pm |
Lecture 2: Private Value Auctions |
| Thursday 28 July 9am – 11am |
Lecture 3: The Revenue Equivalence Principle and its Applications |
| Thursday 28 July 2pm – 4pm |
Lecture 4: Risk Aversion, Budget Constraint, Asymmetries |
| Friday 29 July 10am – 12pm |
Lecture 5: Optimal Auctions |
Enquiries and Registration
For further details please contact the NCER Administration Coordinator:
Angela Fletcher
Queensland University of Technology
Email: a.fletcher@qut.edu.au