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For the section on dynamic games of competition, you can begin by asking if anyone in the class has played competi- tive tennis (club or collegiate or better); there is usually one
An auction during which just one item is on the market for sale. Procedures embody English, Dutch, and sealed bid auctions. When multiple units are sold in one auction, the auction
An auction during which many (more than one) things are offered for sale. Mechanisms for allocating multiple units embody discriminatory and uniform worth auctions.
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 in
One charm of evolutionary game theory is that it permits for relaxation of the normal fully-informed rational actor assumption. People, or agents, are assumed to be myopic, within
A sequential game is {one of|one among|one in all|one amongst|one in each of} excellent data if just one player moves at a time and if every player is aware of each action of the p
A strategy is dominated if, no matter what the other players do, the strategy earns a player a smaller payoff than another strategy. Hence, a method is dominated if it's invariably
In any game, payoffs are numbers that represent the motivations of players. Payoffs might represent profit, quantity, "utility," or different continuous measures (cardinal payoffs)
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
Yankee auction typically implies a multiunit discriminatory English auction. not like a Vickrey auction where every winning bidder pays identical worth for every unit, in a very ya
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