Dutch auction, Game Theory

 

A type of initial worth auction during which a "clock" initially indicates a worth for the item for sale substantially beyond any bidder is probably going to pay. Then, the clock gradually decreases the value till a bidder "buzzes in" or indicates his or her willingness to pay. The auction is then concluded and also the winning bidder pays the number mirrored on the clock at the time he or she stopped the method by buzzing in. These auctions are named when a standard market mechanism for selling flowers in Holland, however conjointly mirror stores successively reducing costs on sale things.

 

Posted Date: 7/21/2012 3:51:48 AM | Location : United States







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

Write discussion on Dutch auction
Your posts are moderated
Related Questions
A set of colluding bidders. Ring participants agree to rig bids by agreeing not to bid against each other, either by avoiding the auction or by placing phony (phantom) bids.

A mixed strategy during which the player assigns strictly positive chance to each pure strategy.Morgenstern, Oskar,Coauthor of Theory of Games and Economic Behavior with John von N

1. This question and the next is based on the following description. Consider the coalitional game (referred to as Game 1) given by: N = {1,2,3,4}; v(N) = 3, v{i} = 0, i = 1,...,4,

GAME 1 Claim a Pile of Dimes Two players Aand B are chosen. The instructor places a dime on the table. Player A can say Stop or Pass. If Stop, then A gets the dime and the gam

What are the important forms of product differentiation? There are three significant forms of product differentiation, which are: 1. Differentiation through style or type –

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

Named when Vilfredo Pareto, Pareto potency (or Pareto optimality) may be alive of potency. An outcome of a game is Pareto economical if there's no different outcome that produces e

One of the foremost common assumptions created in game theory (along with common information of rationality). In its mildest kind, rationality implies that each player is motivated

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

A payoff offerd as a bequest for someone partaking in some activity that doesn't directly provide her with profit. Often, such incentives are given to beat the ethical hazard drawb