Blind auction, Game Theory

 

Another term for a preserved bid auction in which bidders simultaneously submit bids to the auctioneer with no knowledge of the amount bid by other member. Usually, the uppermost bidder (or lowest bidder in a procurement auction) is declared the winner. The winner pays either the amount bid (a first price auction) or an amount equal to the next highest bid (a second price auction).

 

Posted Date: 7/21/2012 5:29:23 AM | Location : United States







Related Discussions:- Blind auction, Assignment Help, Ask Question on Blind auction, Get Answer, Expert's Help, Blind auction Discussions

Write discussion on Blind auction
Your posts are moderated
Related Questions
1. Two firms, producing an identical good, engage in price competition. The cost functions are c 1 (y 1 ) = 1:17y 1 and c 2 (y 2 ) = 1:19y 2 , correspondingly. The demand functi

This chapter introduces mixed strategies and the methods used to solve for mixed strategy equilibria. Students are likely to accept the idea of randomization more readily if they t

mixed strategy game with ordinal and cardinal payoffs example please

Scenario Two corporations should simultaneously elect a technology to use for his or her compatible merchandise. If the corporations adopt totally different standards, few sales

Stanley is auctioning an item that he values at zero. Betty and Billy, the two potential buyers, each have independent private values which are drawn from a uniform distribution, P

Consider a game in which player 1 chooses rows, player 2 chooses columns and player 3 chooses matrices. Only Player 3''s payoffs are given below. Show that D is not a best response

Evolutionary game theory provides a dynamic framework for analyzing repeated interaction. Originally modeled when "natural models" of fitness, a population might contains folks gen

GAME 5 All-Pay Acution of $10 Everyone plays. Show the students a $10 bill, and announce that it is the prize; the known value of the prize guarantees that there is no winer’s

An item of information of data in a very game is common grasp ledge if all of the players realize it (it is mutual grasp ledge) and every one of the players grasp that each one dif

In a Variable add game, the add of all player's payoffs differs counting on the methods they utilize. this can be the other of a continuing add game during which all outcomes invol