E-Commerce and Computational Economics

Motivation: Google just did their Initial Public Offering using Auction. Their IPO was August 18, 2004 at a price of $85 per Share. Basically, google's Open IPO is an example of applied auction theory at work. I was interested about their methods. That is why I chose to explore how auction theories have been applied in reality specially IPOs.

1. Lawrence M. Ausubel, Implications of Auction Theory for New Issues Markets, Brookings-Wharton Papers on Financial Services, 2002, pp. 313-343.

2. Richard H. Pettyway, Should IPOs be Auctioned? The Impacts of Japanese Auction-Priced IPOs

Supplemental Resources:

1. Richard H. Pettyway, IPOS: what we know, what we do not know,IP address March, 2004, UTS.

2. Richard H. Pettyway, “The Impacts of Japanese Price-Competitive IPO Auctions versus the U.S. Underwriter Priced IPOs.” Japanese Finance: Corporate Finance and Capital Markets in Changing Japan. International Finance Review – Volume 4..Edited by J. J. Choi and T. Haraki. (Amsterdam: Elsevier JAI, 2003), pp. 35-56.

2. Efficient Auction (Market-Design)

n http://www.efficientauctions.com

3. Open IPO auction (WRhambrecht+CO)

http://www.wrhambrecht.com/ind/auctions/index.html

4. BBC News, UK Edition , http://news.bbc.co.uk/1/hi/business/3664339.stm

5. MIT-Standard Virtual Lab, VLAB, http://www.vlab.org/

6. Google's Investor Relation. http://investor.google.com/faq.html#gci3

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Sumon Azhar

Last Updated 10/02/2005