Rakesh V. Vohra


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Dr. Rakesh V. Vohra, Ph.D. (Mathematics, University of Maryland), is the Kellogg Professor of Managerial Economics and Decision Sciences at the Kellogg School of Management, Northwestern University, where he is also Director of the Center for Mathematical Studies in Economics and Management Science.

Average rating: 3.95 · 22 ratings · 2 reviews · 4 distinct works
Principles of Pricing: An A...

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3.55 avg rating — 11 ratings — published 2012 — 7 editions
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Advanced Mathematical Econo...

4.33 avg rating — 6 ratings — published 2004 — 4 editions
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Mechanism Design: A Linear ...

4.40 avg rating — 5 ratings — published 2011 — 5 editions
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Mathematics of the Internet...

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0.00 avg rating — 0 ratings — published 2001 — 2 editions
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“Auctions are a venerable selling institution, in use since the time of Herodotus. The word comes from the Latin auctus, meaning to increase. An obscure term for auction, one guaranteed to impress friends and neighbors, is the Latin word subhastare. It is the conjunction of sub, meaning "under," and hasta, meaning "spear." After a military victory, a Roman soldier would plant his spear in the ground to mark the location of his spoils. Later, he would put these goods up for sale by auction.
¹The highest bidder was called the emptor, whence the term caveat emptor.”
Rakesh V. Vohra, Principles of Pricing: An Analytical Approach

“In each case, the relative cost of postponing the purchase for buyer and seller determines the intensity of competition between the [past and future] selves of the seller. If the buyer has a lower cost of postponing the purchase (delay, making do with an interior model) than the seller (inventory, staff salaries) the buyer has the bargaining power.”
Rakesh V. Vohra, Principles of Pricing: An Analytical Approach

“The Cubs are a major league baseball team based in Chicago. Apparently, the team was once cursed by a goat and is doomed now to never win the World Series. The 71 seats [auctioned by the Chicago Board of Exchange] are adjacent to the Cubs' dugout on the third-base line. This is an unnecessary detail needed to give color to what would otherwise be a dull and uninspiring narrative.”
Rakesh V. Vohra, Principles of Pricing: An Analytical Approach



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