R
R. Preston McAfee
Researcher at Microsoft
Publications - 120
Citations - 12372
R. Preston McAfee is an academic researcher from Microsoft. The author has contributed to research in topics: Common value auction & English auction. The author has an hindex of 44, co-authored 120 publications receiving 11905 citations. Previous affiliations of R. Preston McAfee include Google & University of Texas at Austin.
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Auctions and Bidding
R. Preston McAfee,John McMillan +1 more
TL;DR: Hayek as mentioned in this paper argued that the problem of rational economic order is determined by the fact that the knowledge of the circumstances of which we must make use never exists in concentrated or integrated form but solely as the dispersed bits of incomplete and frequently contradictory knowledge which all the separate individuals possess.
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Multiproduct Monopoly, Commodity Bundling, and Correlation of Values
TL;DR: In this article, Adams and Yellen show that bundling can serve as a useful price discrimination device, even when all consumers' willingnesses to pay for each of the goods individually are unaffected by whether they are also consuming the other product.
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A dominant strategy double auction
TL;DR: In this article, a double auction mechanism that provides dominant strategies for both buyers and sellers is analyzed, and the mechanism satisfies the 1n convergence to efficiency of the buyer's bid double auction.
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Analyzing the Airwaves Auction
R. Preston McAfee,John McMillan +1 more
TL;DR: The US government recently sold spectrum rights using an innovative auction design, the simultaneous ascending auction, invented by economic theorists as mentioned in this paper, and the auction outcomes were broadly consistent with the expectations of the theorists.
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Auctionin Entry into Tournaments
TL;DR: In this paper, a research tournament model with heterogeneous contestants is presented, and the optimal number of competitors is two for a large class of contests, regardless of the form of contestants heterogeneity.