Universität Wien

040063 KU Auction Theory (MA) (2022S)

8.00 ECTS (4.00 SWS), SPL 4 - Wirtschaftswissenschaften
Continuous assessment of course work

Registration/Deregistration

Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).

Details

max. 50 participants
Language: English

Lecturers

Classes (iCal) - next class is marked with N

Tuesday 01.03. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Wednesday 02.03. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Tuesday 08.03. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Wednesday 09.03. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Tuesday 15.03. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Wednesday 16.03. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Tuesday 22.03. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Wednesday 23.03. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Tuesday 29.03. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Wednesday 30.03. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Tuesday 05.04. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Wednesday 06.04. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Tuesday 26.04. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Wednesday 27.04. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Tuesday 03.05. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Wednesday 04.05. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Tuesday 10.05. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Wednesday 11.05. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Tuesday 17.05. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Wednesday 18.05. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Tuesday 24.05. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Wednesday 25.05. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Tuesday 31.05. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Wednesday 01.06. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Wednesday 08.06. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Tuesday 14.06. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Wednesday 15.06. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Tuesday 21.06. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Wednesday 22.06. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Tuesday 28.06. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
Wednesday 29.06. 18:30 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß

Information

Aims, contents and method of the course

The aim of the course is to introduce the students to the most famous results in auction theory and mechanism design. Topics covered include:
- Analysis of classical auctions (English, Dutch, second-price sealed bid, first-price sealed bid)
- Introduction to multi-unit auctions
- Revelation principle
- Revenue equivalence theorem
- Contracting and agency problems
- Public good provision as a mechanism design problem
- Dominant strategy and Bayesian implementation of social choice functions
- Impossibility theorems (Myerson–Satterthwaite, Gibbard–Satterthwaite)
- Introduction to optimal auctions - reserve prices
The course is mostly theoretical with applications to real-life situations like spectrum auctions, public good provision, allocation of natural resources etc.

Assessment and permitted materials

Assessment is based on problem sets and two exams. Problem sets yield 40% of the grade and the remaining 60% is split equally between the two exams. The grading is as follows:
0-59%-5
60-69%-4
70-79%-3
80-89%-2
90-100%-1

Minimum requirements and assessment criteria

Assessment is based fully on the problem sets and the two exams described in "Assessment".

The minimum requirement for passing the course is 60% of the maximum grade.

There is no attendance requirement and this 60% can be obtained as any combination between the two exams and problem sets.

Examination topics

The examination topics will include both questions testing the understanding of the topics included in the contents as well as the ability to apply them.

Reading list

Course will include self-containing slides. In addition, the part on auction theory draws on Vijay Krishna (2009): Auction Theory. 2nd Edition.

Association in the course directory

Last modified: Th 03.03.2022 16:08