The first question specifies which
parts of the paper you are expected to read, and asks for a general summary. I imagine that
an adequate summary will take approximately one half to one full typed, single-spaced page
of text. In addition to summarizing the reading in your own words, you should answer each
of the other questions � depending on the question, a complete answer may take a sentence
or a full paragraph.
I will post the link of the reading.
�What Really Matters in Auction Design� Paul Klemperer, Journal of Economic Perspectives,
2002.
(a) Read the entire paper, and write your own summary.
(b) List some drawbacks and some advantages of ascending auctions, from a practical
auction design perspective.
(c) List some drawbacks and some advantages of sealed-bid auctions, from a practical
auction design perspective.
(d) Describe the Anglo-Dutch auction rules.
(e) In what circumstances will the design of an auction be less important?
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