Vijay Krishna’s Second Edition of Auction Theory improves upon his 2002 best seller with a new chapter on package and position auctions as well as end-of-chapter questions and chapter notes. Complete proofs and new material about collusion complement Krishna’s ability to reveal the basic facts of each theory in a style that is clear, concise, and easy to follow. With the addition of a solutions manual and other teaching aids, the Second Edition continues to serve as the doorway to relevant theory for most students doing empirical work on auctions.