Brandon Fuller explains at Slate’s new spin-off, The Big Money.
The best in-depth survey of auction theory is Paul Klemperer’s, here [pdf, technical].
The outstanding question here is, if the Treasury uses reverse auctions to buy up bank assets, how to adjust for the fact that not all bank assets are the same. No doubt a mere technicality…
Tim writes about the economics of everyday life. His weekly columns for the FT Magazine are: "The Undercover Economist" and "Dear Economist". He also writes editorials for the FT, presents Radio 4's More or Less and is the author
of "The Undercover Economist" and "The Logic of Life" . To learn more, visit: timharford.com
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