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Game Theory, Nobel Prize & Auctions - Auction Primer Series Part 1
The Auction Primer Series is a group of articles to help further educate sellers about auctions; their history, strategies for use, and provide a comparison of various auction sites and types. In Part 1, we look at the more common type of auctions in use today.
William Vickrey, highly regarded as the founder of auction theory, was an economics professor at Columbia University when he published two papers outlining his views on auctions:
Counterspeculation, Auctions, and Competitive Sealed Tenders , 1961, Journal of Finance
Auction and Bidding Games , 1962, Recent Advances in Game Theo ..