COS 444 - Internet Auctions: Theory and Practice

Spring 2009

Date Main Topic    ...    Reading Assignments
Tue, Feb 3 1    course goals, methodologies, common auction forms  
Thu, Feb 5 history, theoretical setup, variants of the English auction, dominant strategies    Vickrey61    exp 1  
Tue, Feb 10 2    Vickrey auctions, first-price and Dutch auctions, the four basic forms    exp 2  
Thu, Feb 12 mail-bid sales, evolution to eBay, ending rules    Buy-or-Bid    Terms of Sale    exp 3  
Tue, Feb 17 3    simplest rev. equiv.    quick intro. probability    order statistics Ass. 1 due
Thu, Feb 19 revenue equiv. w. uniform values    intro. to empirical work: Shohat-Musch03    LR99 (testing RE)    exp 4  
Tue, Feb 24 4    FP equil: bid space    Maple code    check FP montonicity    eBay's algorithm    law suit    eBay observed    exp 5  
Thu, Feb 26 FP equil: value space    Katkar-LR00 (reserves on eBay)    all-pay auction, rev. equiv. w. uniform v's    exp 6 Ass. 2 due
Tue, Mar 3 5    third-price auctions    all-pay auctions    SP, FP revenue; more general rev. equiv.    exp 7  
Thu, Mar 5 to snipe or not to snipe: information revelation, implicit collusion, endowment effect, field evidence    anonymity policy    exp 8 Ass. 3 due
Tue, Mar 10 6    discuss Ass. 3    sniping, con't    conditional expectation, stronger rev. equiv., graphical interpretation     
Thu, Mar 12 preference revelation    optimal auctions:  Riley-Samuelson81    marginal revenue, interpretation    tourn. SP1  
Tue, Mar 17 No class - spring break             cartoon       March madness  
Thu, Mar 19 No class - spring break             what happens to bad emperors  
Tue, Mar 24 7    term papers    field test of RE on eBay: Hossain-Morgan04    1-sided binomial test    tourn. SP2  
Thu, Mar 26 optimal reserve in RS81 auctions    field test of FP reserve pre-eBay: LR00 Ass. 4 due
Tue, Mar 31 8    all-pay with res.    other auctions: Sad-losers; Santa-Claus; price-match    tourn. FPR1  
Thu, Apr 2 other auctions (con't),    risk aversion    discuss Ass. 4    tourn. FPR2     
Tue, Apr 7 9    auctions w. asymm. bidders: Myerson81, BR89    revelation principle    optimal mechanisms    throwing good money  
Thu, Apr 9 laboratory evidence    spite: MSR03    evolution: MS03 Ass. 5 due
Tue, Apr 14 10    Winner's Curse    common values    Wilson69 CCC71    discuss Ass. 5    tourn. SP3way1  
Thu, Apr 16 discuss term paper proposals    affiliated values, linkage principle, rev. ranking: Milgrom-Weber82    tourn. SP3way2 TP proposal due
Tue, Apr 21 11    intro to multi-unit auctions, demand reduction, VCG mechanism M01, AC98 :: notes  
Thu, Apr 23 multi-item, VCG in combinatorial auctions, complexity    beauty contest: Nagel95  
Tue, Apr 28 12    bidder collusion: FCC spectrum auctions    rings: Graham-Marshall87 :: notes    shills  
Thu, Apr 30 impossibility of efficient bilateral trade: MS83 :: notes    auctions v. negotiations: Bulow-Klemperer96 :: notes Ass. 6 due
  price bubbles in the lab: Porter-Smith 03    rational frenzies: Bulow-Klemperer94 :: notes    agent-based simulation    SPC  
Tue, May 12 Dean's date Paper due 5pm

ken at princeton dot edu
Last update: Wed Apr 29 04:59:49 EDT 2009