COUNTERSPECULATION AUCTIONS AND COMPETITIVE SEALED TENDERS PDF

After obtaining his B. Career[ edit ] Vickrey was the first to use the tools of game theory to explain the dynamics of auctions. The revenue equivalence theorem remains the centrepiece of modern auction theory. The Vickrey auction is named after him. The theory was later partially put into action in London. In public economics , Vickrey extended the Georgist marginal cost pricing approach of Harold Hotelling [8] and showed how public goods should be provided at marginal cost and capital investment outlays financed with land value tax.

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Counterspeculation, Auctions, And Competitive Sealed Tenders

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CULLIS AND JONES PUBLIC FINANCE AND PUBLIC CHOICE PDF

COUNTERSPECULATION, AUCTIONS, AND COMPETITIVE SEALED TENDERS

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STK412 150 PDF

William Vickrey

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