Price formation in auction theory : a review of theoretical findings and a model for future research
This paper studies the price formation in both perfect and imperfect competitive market. Some interesting ideas, which were raised in previous journals, are revisited. The relationship between the traditional economic theories and auctions is fully covered as well. In this area of study, the third-d...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Final Year Project (FYP) |
| Language: | English |
| Published: |
2012
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/48870 |
| _version_ | 1811683302156795904 |
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| author | Xin, Yu Wu, Tianqi Wu, Zhaodong |
| author2 | Yao Shuntian |
| author_facet | Yao Shuntian Xin, Yu Wu, Tianqi Wu, Zhaodong |
| author_sort | Xin, Yu |
| collection | NTU |
| description | This paper studies the price formation in both perfect and imperfect competitive market. Some interesting ideas, which were raised in previous journals, are revisited. The relationship between the traditional economic theories and auctions is fully covered as well. In this area of study, the third-degree price discrimination theory was shown equivalent to the one of optimal auction in Bulow & Roberts (1989). Based on some significant findings in that research, we extend the model of Cournot competition under auction theory, and compare and contrast this new model with the one under microeconomic theory. |
| first_indexed | 2024-10-01T04:10:34Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/48870 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T04:10:34Z |
| publishDate | 2012 |
| record_format | dspace |
| spelling | ntu-10356/488702019-12-10T14:11:35Z Price formation in auction theory : a review of theoretical findings and a model for future research Xin, Yu Wu, Tianqi Wu, Zhaodong Yao Shuntian School of Humanities and Social Sciences DRNTU::Science::Mathematics::Applied mathematics::Simulation and modeling DRNTU::Social sciences::Economic theory This paper studies the price formation in both perfect and imperfect competitive market. Some interesting ideas, which were raised in previous journals, are revisited. The relationship between the traditional economic theories and auctions is fully covered as well. In this area of study, the third-degree price discrimination theory was shown equivalent to the one of optimal auction in Bulow & Roberts (1989). Based on some significant findings in that research, we extend the model of Cournot competition under auction theory, and compare and contrast this new model with the one under microeconomic theory. Bachelor of Arts 2012-05-10T06:08:14Z 2012-05-10T06:08:14Z 2012 2012 Final Year Project (FYP) http://hdl.handle.net/10356/48870 en Nanyang Technological University 35 p. application/pdf |
| spellingShingle | DRNTU::Science::Mathematics::Applied mathematics::Simulation and modeling DRNTU::Social sciences::Economic theory Xin, Yu Wu, Tianqi Wu, Zhaodong Price formation in auction theory : a review of theoretical findings and a model for future research |
| title | Price formation in auction theory : a review of theoretical findings and a model for future research |
| title_full | Price formation in auction theory : a review of theoretical findings and a model for future research |
| title_fullStr | Price formation in auction theory : a review of theoretical findings and a model for future research |
| title_full_unstemmed | Price formation in auction theory : a review of theoretical findings and a model for future research |
| title_short | Price formation in auction theory : a review of theoretical findings and a model for future research |
| title_sort | price formation in auction theory a review of theoretical findings and a model for future research |
| topic | DRNTU::Science::Mathematics::Applied mathematics::Simulation and modeling DRNTU::Social sciences::Economic theory |
| url | http://hdl.handle.net/10356/48870 |
| work_keys_str_mv | AT xinyu priceformationinauctiontheoryareviewoftheoreticalfindingsandamodelforfutureresearch AT wutianqi priceformationinauctiontheoryareviewoftheoreticalfindingsandamodelforfutureresearch AT wuzhaodong priceformationinauctiontheoryareviewoftheoreticalfindingsandamodelforfutureresearch |