We show conditions under which for any given first price handicap auction, there is a simple second-price design which dominates it. This generalizes a previous result for the case of an auction with one insider and one outsider (Mares and Swinkels in J Econ Theory, 2013 ) and sharpens our...
Terms—grid resource scheduling, game theory, extended second price sealed auctionIn resource-limited environment, grid users compete for limited resources, and how to guarantee tasks' victorious probabilities is one of the most primary issues that a resource scheduling model cares. In order to ...
Comparative static tests of Nash bidding theory in second-price common value auctions show that bidders fail to respond in the right direction to more rivals and to public information concerning the value of the item. The former provides a clear indication that bidders fail to appreciate the adver...
We start our analysis of auction formats with the second-price auction, where the winning bidder does not pay the bid he submitted but, instead, the second-highest bid. This auction format is relatively easy to analyze, requiring limited mathematical steps, and thus we believe that it can ser...
First-price vs. second-price auction The distinction between a generalized first-price auction and a second-price auction lies in the payment method of the winning bid. This variance necessitates tailored bidding strategies to navigate each scenario effectively, as suggested by game theory principles...
1.Based on the principle of the first-price sealed auction in the game theory,this paper studies the tradable market of the emission permit and establishes a bidding game model with incomplete information for enterprises when each emisssion enterprise poses different attitudes.运用博弈论中的一级密封...
3) first-price sealed auction 一级密封价格拍卖 1. Based on the principle of thefirst-price sealed auctionin the game theory,this paper studies the tradable market of the emission permit and establishes a bidding game model with incomplete information for enterprises when each emisssion enterprise...
of two standard auctions, the English auction and the first-price sealed-bid auction, and a lesser-known format, the Amsterdam (second-price) auction. ... A Hu,T Offerman,S Onderstal - 《International Journal of Industrial Organization》 被引量: 121发表: 2011年 An experimental investigation ...
Second-price auctions with reserve play a critical role for modern search engine and popular online sites since the revenue of these companies often directly de- pends on the outcome of such auctions. The choice of the reserve price is the main mechanism through which the auction revenue can ...
Most recent papers addressing the algorithmic problem of allocating advertisement space for keywords in sponsored search auctions assume that pricing is done via a first-price auction, which does not realistically model the Generalized Second Price (GSP) auction used in practice. Towards the goal of ...