Bidding increment, Game Theory

 

A bidding increment is defined by the auctioneer as the least amount above the previous bid that a new bid must be in order to be adequate to the auctioneer. For example, if the increment is $8,000 and the current high bid is $90,000, only bids above $95,000 will be entertained.

 

Posted Date: 7/21/2012 5:28:47 AM | Location : United States







Related Discussions:- Bidding increment, Assignment Help, Ask Question on Bidding increment, Get Answer, Expert's Help, Bidding increment Discussions

Write discussion on Bidding increment
Your posts are moderated
Related Questions
Consider the Cournot duopoly model in which two rms, 1 and 2, simultaneously choose the quantities they will sell in the market, q 1 and q 2 . The price each receives for each uni

1  A, Explain how a person can be free to choose but his or her choices are casually determined by past event 2  B , Draw the casual tree for newcomb's problem when Eve can't pe


1. Consider a two-player game where player A chooses "Up," or "Down" and player B chooses "Left," "Center," or "Right". Their payoffs are as follows: When player A chooses "Up" and

An auction during which bidders simultaneously submit bids to the auctioneer while not information of the number bid by different participants. Usually, the very best bidder (or lo

An equilibrium refinement provides how of choosing one or many equilibria from among several in a very game. several games might contain many Nash equilibria, and therefore supply

The Cournot adjustment model, initial proposed by Augustin Cournot within the context of a duopoly, has players choose methods sequentially. In every amount, a firm selects the act

Two animals are fighting over a prey. The prey is worth v to each animal. The cost of fighting is c1 for the first animal (player 1) and c2 for the second animal (player 2). If the

The interaction among rational, mutually aware players, where the choices of some players impacts the payoffs of others. A game is described by its players, every player's methods,

In any game, payoffs are numbers that represent the motivations of players. Payoffs might represent profit, quantity, "utility," or different continuous measures (cardinal payoffs)