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
A game tree (also referred to as the in depth form) may be a graphical illustration of a sequential game. It provides data concerning the players, payoffs, strategies, and also the

An auction associates who submits offers (or bids) to sale or buy  the goods being auctioned.

A pure strategy defines a selected move or action that a player can follow in each potential attainable state of affairs in a very game. Such moves might not be random, or drawn fr

in a rectangular game pay off matrix of player a is as follows B1 B2 A1 5 7 A2 4 0 salve the game write down the pay off matrix of B and then solve the game.

An auction during which the bidder who submitted the very best bid is awarded the item being sold and pays a worth equal to the number bid. Alternately, in a very procurement aucti

Problem: Consider a (simplified) game played between a pitcher (who chooses between throwing a fastball or a curve) and a batter (who chooses which pitch to expect). The batter ha

Backward induction is an iterative procedure for resolving finite general form or sequential games. First, one decides the finest policy of the player who makes the last move of th


Ronaldo (Brazil) kicks a penalty against Casillas (Spain) in the 2006 World Cup nal. Sup- pose that Ronaldo can kick the ball to Casillas' upper left (UL), lower left (LL), upper r

In Bontemps, Louisiana there are only two places to spend time: Merlotte's bar and Fangtasia. Sookie and Eric have made plans to spend Friday night together, but they never decided