?What Really Matters in Auction Design? Paul Klemperer, Journal of Economic Perspectives, 2002.

?What Really Matters in Auction Design? Paul Klemperer, Journal of Economic Perspectives, 2002. Order Description 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. ?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?