Auction theory
Cambridge University Press eBooksPublished 26 June 1987
Paul Milgrom
Citations86
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Abstract
Auctions are one of the oldest surviving classes of economic institutions. The first historical record of an auction is usually attributed to Herodotus, who reported a custom in Babylonia in which men bid for women to wed. Other observers have reported auctions throughout the ancient world - in Babylonia, Greece, the Roman Empire, China, and Japan.
Keywords
Decision Sciences