Auction Theory in Economics
Auctions are an event where different parties can bid for the right to purchase a good or service. Auctions are seen as a potentially efficient mechanism for the sale and purchase of goods.
Macey, Jonathan R. 'Auction Theory, MBOs and Property Rights in Corporate Assets.' Wake Forest Law Review 25 (1990): 85.
Macey, Jonathan R., and Fred S. McChesney. 'A Theoretical Analysis of Corporate Greenmail.' Yale Law Journal 95 (1985): 113.
Microeconomics thus broadly encompasses many specialized bodies of theory, such as auction theory and game theory.
 See also: Dutch auction, Entrepreneur, Political economy
  
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