Assistant Professor of Economics Timothy Hubbard’s new book, Auctions (MIT Press), is part of the MIT Press Essential Knowledge Series. Cowritten with Harry J. Paarsch, the book explains both the theory and the practice of auctions. “The authors explain what constitutes an auction and how auctions can be modeled as games of asymmetric information,” MIT Press reports. “That is, games in which some players know something that other players do not.”

The economics blog Marginal Revolution, written by Tyler Cowen and Alex Tabarrok of George Mason University, mentioned the book in Feb. 26 post, with a note that the authors saw “only virtues and no flaws.”