Valuation of the bidding object, Other Subject

Problem: As in class there is some set N of bidders in an auction of one object, which the seller of the object can deliver at 0 cost. Suppose each bidder is valuation of the object is given by some parameter vi ≥ 0 which is only known to bidder i.

1. Suppose the auction format is the first price auction, where bidders simultaneously write their bids, submit them, and the winning bidder (the one with the highest bid) pays her bid. Would bidders want to bid their valuations, below their valuations, or above their valuations?

2. Suppose now that the auction proceeds as follows: initially some low price is announced, say p0 = 0, and it keeps being increased continuously through time, e.g., at time t, p (t) = t. At each moment, all biders who still want to remain in the auction keep their hands raised; at the moment a bidder wants to drop out she lowers her hand (and she can't raise it again). The object is awarded to the last bidder with the raised hand. At what price would a bidder want to lower her hand?

Posted Date: 3/23/2013 3:02:10 AM | Location : United States







Related Discussions:- Valuation of the bidding object, Assignment Help, Ask Question on Valuation of the bidding object, Get Answer, Expert's Help, Valuation of the bidding object Discussions

Write discussion on Valuation of the bidding object
Your posts are moderated
Related Questions
need help finding literary terms in a song

need help on some B2B questions and consumer? McDonald''s Big Mac? 14 pound of sugar



VI R TUA L TERMINAL In open systems, a virtual terminal ( VT ) is a submission service that: 1.   Allows host terminals on a multi-user network to work together with ot

Hey there. I was wondering if you guys can help me with my assignments.

please compute this number 918 for the swertres lotto gam

Problem 1 In what ways can radio be a better medium for transmitting messages to an audience? Problem 2 (a) Explain three different types of radio interviews and illust

Imagine a situation where a young adult has to approach an attractive person of the opposite sex that he (or increasingly nowadays she) wants to ask out for a date. On one hand int

Question 1: Elaborate on the different techniques required for the creation of a good television interview. Question 2: To what extent is radio still a powerful instrum