Snipers, Shills, and Sharks
Snipers, Shills, and Sharks

Author: Ken Steiglitz

Publisher: Princeton University Press

Published: 2021-08-10

Total Pages: 300

ISBN-13: 0691233861

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Every day on eBay, millions of people buy and sell a vast array of goods, from rare collectibles and antiques to used cars and celebrity memorabilia. The internet auction site is remarkably easy to use, which accounts in part for its huge popularity. But how does eBay really work, and how does it compare to other kinds of auctions? These are questions that led Ken Steiglitz--computer scientist, collector of ancient coins, and a regular eBay user--to examine the site through the revealing lens of auction theory. The result is this book, in which Steiglitz shows us how human behaviors in open markets like eBay can be substantially more complex than those predicted by standard economic theory. In these pages we meet the sniper who outbids you in an auction's closing seconds, the early bidder who treats eBay as if it were an old-fashioned outcry auction, the shill who bids in league with the seller to artificially inflate the price--and other characters as well. Steiglitz guides readers through the fascinating history of auctions, how they functioned in the past and how they work today in online venues like eBay. Drawing on cutting-edge economics as well as his own stories from eBay, he reveals practical auction strategies and introduces readers to the fundamentals of auction theory and the mathematics behind eBay. Complete with exercises and a detailed appendix, this book is a must for sophisticated users of online auctions, and essential reading for students seeking an accessible introduction to the study of auction theory.

Dealmaking
Dealmaking

Author: Guhan Subramanian

Publisher: W. W. Norton & Company

Published: 2011-08-22

Total Pages: 257

ISBN-13: 0393339955

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“Packed with transformative insights, Dealmaking will help a new generation of business leaders get to yes.”—William Ury, coauthor of Getting to Yes Informed by meticulous research, field experience, and classroom-tested strategies, Dealmaking offers essential insights for anyone involved in buying or selling everything from cars to corporations. Leading business scholar Guhan Subramanian provides a lively tour of both negotiation and auction theory, then takes an in-depth look at his own hybrid theory, outlining three specific strategies readers can use in complex dealmaking situations. Along the way, he examines case studies as diverse as buying a house, haggling over the rights to a TV show, and participating in the auction of a multimillion-dollar company. Based on broad research and detailed case studies, Dealmaking brings together negotiation and auction strategies for the first time, providing the jargon-free, empirically sound advice professionals need to close the deal. Originally published in hardcover under the title Negotiauctions.

Managing Information in the Roman Economy
Managing Information in the Roman Economy

Author: Cristina Rosillo-López

Publisher: Springer Nature

Published: 2020-12-23

Total Pages: 340

ISBN-13: 3030541002

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This volume studies information as an economic resource in the Roman World. Information asymmetry is a distinguishing phenomenon of any human relationship. From an economic perspective, private or hidden information, opposed to publicly observable information, generates advantages and inequalities; at the same time, it is a source of profit, legal and illegal, and of transaction costs. The contributions that make up the present book aim to deepen our understanding of the economy of Ancient Rome by identifying and analysing formal and informal systems of knowledge and institutions that contributed to control, manage, restrict and enhance information. The chapters scrutinize the impact of information asymmetries on specific economic sectors, such as the labour market and the market of real estate, as well as the world of professional associations and trading networks. It further discusses structures and institutions that facilitated and regulated economic information in the public and the private spheres, such as market places, auctions, financial mechanisms and instruments, state treasures and archives. Managing Asymmetric Information in the Roman Economy invites the reader to evaluate economic activities within a larger collective mental, social, and political framework, and aims ultimately to test the applicability of tools and ideas from theoretical frameworks such as the Economics of Information to ancient and comparative historical research.

EconoPower
EconoPower

Author: Mark Skousen

Publisher: John Wiley & Sons

Published: 2011-01-04

Total Pages: 298

ISBN-13: 1118045122

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EconoPower will provide you with a firm understanding of the influence of modern economics and how it can be used to improve the world we live in. It offers practical advice on numerous personal financial matters—earning, saving, investing, and retiring—based on the breakthrough contributions of behavioral economists. And it looks at how economists are working successfully on issues such as public education, crime, and global warming. EconoPower also examines how a new economic philosophy may dominate the new millennium.

Diversity of Experimental Methods in Economics
Diversity of Experimental Methods in Economics

Author: Toshiji Kawagoe

Publisher: Springer

Published: 2019-02-09

Total Pages: 202

ISBN-13: 9811360650

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This is the first book that examines the diverse range of experimental methods currently being used in the social sciences, gathering contributions by working economists engaged in experimentation, as well as by a political scientist, psychologists and philosophers of the social sciences. Until the mid-twentieth century, most economists believed that experiments in the economic sciences were impossible. But that’s hardly the case today, as evinced by the fact that Vernon Smith, an experimental economist, and Daniel Kahneman, a behavioral economist, won the Nobel Prize in Economics in 2002. However, the current use of experimental methods in economics is more diverse than is usually assumed. As the concept of experimentation underwent considerable abstraction throughout the twentieth century, the areas of the social sciences in which experiments are applied are expanding, creating renewed interest in, and multifaceted debates on, the way experimental methods are used. This book sheds new light on the diversity of experimental methodologies used in the social sciences. The topics covered include historical insights into the evolution of experimental methods; the necessary “performativity” of experiments, i.e., the dynamic interaction with the social contexts in which they are embedded; the application of causal inferences in the social sciences; a comparison of laboratory, field, and natural experiments; and the recent use of randomized controlled trials (RCTs) in development economics. Several chapters also deal with the latest heated debates, such as those concerning the use of the random lottery method in laboratory experiments.

Killer Stuff and Tons of Money
Killer Stuff and Tons of Money

Author: Maureen Stanton

Publisher: Penguin

Published: 2011-06-09

Total Pages: 347

ISBN-13: 1101516054

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One dealer's journey from the populist mayhem of flea markets to the rarefied realm of auctions reveals the rich, often outrageous subculture of antiques and collectibles. Millions of Americans are drawn to antiques and flea-market culture, whether as participants or as viewers of the perennially popular Antiques Roadshow or the recent hit American Pickers. This world has the air of a lottery: a $20 purchase might net you four, five, or six figures. Master dealer Curt Avery, the unlikely star of Killer Stuff and Tons of Money, plays that lottery every day, and he wins it more than most. Occasionally he gets lucky, but more often, he draws on a deep knowledge of America's past and the odd, fascinating, and beautiful objects that have survived it. Week in, week out, Avery trawls the flea and antiques circuit-buying, selling, and advising other dealers in his many areas of expertise, from furniture to glass to stoneware, and more. On the surface, he's an improbable candidate for an antiques dealer. He wrestled in high school and still retains the pugilistic build; he is gruff, funny, and profane; he favors shorts and sneakers, even in November; and he is remarkably generous toward both competitors and customers who want a break. But as he struggles for a spot in a high-end Boston show, he must step up his game and, perhaps more challenging, fit in with a white-shoe crowd. Through his ascent, we see the flea-osphere for what it truly is-less a lottery than a contact sport with few rules and many pitfalls. This rich and sometimes hilarious subculture rewards peculiar interests and outright obsessions-one dealer specializes in shrunken heads; another wants all the postal memorabilia he can get. So Avery must be a guerrilla historian and use his hard-earned knowledge of America's past to live by and off his wits. Only the smartest survive in one of America's most ruthless meritocracies. Killer Stuff and Tons of Money is many things: an insider's look at a subculture replete with arcane traditions and high drama, an inspiring account of a self-made man making his way in a cutthroat field, a treasure trove of tips for those who seek out old things themselves, and a thoroughly fresh, vibrant view of history as blood sport.

Auctions
Auctions

Author: Timothy P. Hubbard

Publisher: MIT Press

Published: 2016-01-06

Total Pages: 266

ISBN-13: 0262528533

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How auctions work, in theory and practice, with clear explanations and real-world examples that range from government procurement to eBay. Although it is among the oldest of market institutions, the auction is ubiquitous in today's economy, used for everything from government procurement to selling advertising on the Internet to course assignment at MIT's Sloan School. And yet beyond the small number of economists who specialize in the subject, few people understand how auctions really work. This concise, accessible, and engaging book explains both the theory and the practice of auctions. It describes the main auction formats and pricing rules, develops a simple model to explain bidder behavior, and provides a range of real-world examples. The authors explain what constitutes an auction and how auctions can be modeled as games of asymmetric information—that is, games in which some players know something that other players do not. They characterize behavior in these strategic situations and maintain a focus on the real world by illustrating their discussions with examples that include not just auctions held by eBay and Sotheby's, but those used by Google, the U.S. Treasury, TaskRabbit, and charities. Readers will begin to understand how economists model auctions and how the rules of the auction shape bidder incentives. They will appreciate the role auctions play in our modern economy and understand why these selling mechanisms are so resilient.

Trading Agents
Trading Agents

Author: Michael Thomaz

Publisher: Springer Nature

Published: 2022-05-31

Total Pages: 93

ISBN-13: 3031015541

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Automated trading in electronic markets is one of the most common and consequential applications of autonomous software agents. Design of effective trading strategies requires thorough understanding of how market mechanisms operate, and appreciation of strategic issues that commonly manifest in trading scenarios. Drawing on research in auction theory and artificial intelligence, this book presents core principles of strategic reasoning that apply to market situations. The author illustrates trading strategy choices through examples of concrete market environments, such as eBay, as well as abstract market models defined by configurations of auctions and traders. Techniques for addressing these choices constitute essential building blocks for the design of trading strategies for rich market applications. The lecture assumes no prior background in game theory or auction theory, or artificial intelligence. Table of Contents: Introduction / Example: Bidding on eBay / Auction Fundamentals / Continuous Double Auctions / Interdependent Markets / Conclusion

Trading Agents
Trading Agents

Author: Michael P. Wellman

Publisher: Morgan & Claypool Publishers

Published: 2011

Total Pages: 108

ISBN-13: 9781598296051

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Automated trading in electronic markets is one of the most common and consequential applications of autonomous software agents. Design of effective trading strategies requires thorough understanding of how market mechanisms operate, and appreciation of strategic issues that commonly manifest in trading scenarios. Drawing on research in auction theory and artificial intelligence, this book presents core principles of strategic reasoning that apply to market situations. The author illustrates trading strategy choices through examples of concrete market environments, such as eBay, as well as abstract market models defined by configurations of auctions and traders. Techniques for addressing these choices constitute essential building blocks for the design of trading strategies for rich market applications.The lecture assumes no prior background in game theory or auction theory, or artificial intelligence.Table of Contents: Introduction / Example: Bidding on eBay / Auction Fundamentals / Continuous Double Auctions / Interdependent Markets / Conclusion

Networked Life
Networked Life

Author: Mung Chiang

Publisher: Cambridge University Press

Published: 2012-09-10

Total Pages: 506

ISBN-13: 113957700X

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How does Google sell ad space and rank webpages? How does Netflix recommend movies and Amazon rank products? How can you influence people on Facebook and Twitter and can you really reach anyone in six steps? Why doesn't the internet collapse under congestion and does it have an Achilles' heel? Why are you charged per gigabyte for mobile data and how can Skype and BitTorrent be free? How are cloud services so scalable and why is WiFi slower at hotspots than at home? Driven by twenty real-world questions about our networked lives, this book explores the technology behind the multi-trillion dollar internet and wireless industries. Providing easily understandable answers for the casually curious, alongside detailed explanations for those looking for in-depth discussion, this thought-provoking book is essential reading for students in engineering, science and economics, for network industry professionals and anyone curious about how technological and social networks really work.