Auction Literature (textbook)

Original article (link) posted: 23/07/2005

The followings are references for auction theory.
There are at least 4 textbooks now.

1. Krishna (2002) "Auction Theory"
2. Klemperer (2003) "Auctions: Theory and Practice"
3. Milgrom (2004) "Putting Auction Theory to Work"
4. Menezes&Monteiro (2005) "An Introduction to Auction Theory"

1 is the most standard and concise, yet very rigorous textbook. Those who want to focus on auction theory should read this book first. He also spends many spaces for multi-unit auctions, using 6 chapters out of 17.
2 is the collection of the articles by Klemperer. Easy to read and recommended for beginners. It does not cover theory of auction comprehensively.
3 contains both auction theory and detailed survey of actual auction design. You would get motivated by this book written by one of the legend in this field.
4 is a recent book. The style is similar to Krishna but mainly focus on single-unit auction.

The chapter of Auction in the following book is well written and highly recommended for the readers who don't have enough background on game theory.

5. Wolfstetter (1999) "Topics in Microeconomics : Industrial Organization, Auctions, and Incentives"

The following two books might be useful for those who have interest on auction designs in real world.

6. Illing and Kluh (2003) "Spectrum Auctions and Competition in Telecommunications"
7. Janssen (2004) "Auctioning Public Assets"

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