�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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