Resumen de Una introducción al análisis económico de las subastas
José María Usategui Díaz de Otalora
This work presents the main results derived in the economic analysis of auctions. First, there is a description of the basic aspects that characterize auctions and of the different types of auctions: english, dutch, first-price, second-price, uniform price, discriminatory and double. Then, the principal results obtained in the analysis of private-values auctions are explained. Finally, several important aspects of auctions are discussed: efficiency in auctions and optimal auctions, collusion among the bidders, risk-aversion in auctions, common-value auctions and auctions with correlated values, and asymmetric bidders. Although some results are formally proved the presentation is mostly based on intuitive explanations.
