Auctions in Kautilya’s Arthasastra.

Babu, P. G. and Kumar, Vikas (2023) Auctions in Kautilya’s Arthasastra. In: Axes of sustainable development and growth in India. Springer, pp. 311-332. ISBN 9789811997563

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Abstract

This paper examines auctions in the Kautiliya Arthasastra, the oldest Indian treatise on law, economic activities, and statecraft. It suggests that auctions of land and goods described in the treatise differ from modern auctions insofar as they were designed around the ideal of just prices. It also highlights the differences between auctions of land and goods in terms of the degree of competition allowed by the auction design. It argues that Kautilyan auctions of goods are Pareto-efficient but do not maximize the seller’s profit, whereas auctions of land are neither Pareto-efficient nor maximize the seller’s profit. The paper also discusses the exegetical problems raised by the comparative analysis of the two types of auctions.

Item Type:	Book Section
Authors:	Babu, P. G. and Kumar, Vikas
Document Language:	Language English (Full Issue)
Uncontrolled Keywords:	Economics and finance, Kautiliya Arthasastra, Indian treatise on law, economic activities, statecraft, Pareto-efficient
Subjects:	Social sciences Social sciences > Economics > Production Social sciences > Economics > Production > Sustainable development
Divisions:	Azim Premji University - Bengaluru > School of Development
Full Text Status:	None
Related URLs:	DOI
URI:	http://publications.azimpremjiuniversity.edu.in/id/eprint/5948
Publisher URL:	https://link.springer.com/

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