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A collection of colluding bidders. Ring members comply with rig bids by agreeing to not bid against one another, either by avoiding the auction or by putting phony (phantom) bids
A minimum bid is that the smallest acceptable bid in an auction. a gap bid, the primary bid placed within the auction, should be a minimum of as high because the minimum bid or the
Treating probability as a logic, Thomas Bayes defined the following: Pr(X|Y)=Pr(Y|X)Pr(X)/Pr(Y) For example, probability that the weather was bad given that our friends playe
what is cooperative game model
The best reply dynamic is usally termed the Cournot adjustment model or Cournot learning after Augustin Cournot who first proposed it in the context of a duopoly model. Each of two
In many cases we are interested in only one (or a few) of the equations of the model and attempts to measure its parameters statistically without a complete knowledge of the entire
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Assurance game Scenario "Assurance game" may be a generic name for the sport a lot of commonly called "Stag Hunt." The French thinker, Jean Jacques Rousseau, presented the subse
A type of sequential second worth auction during which an auctioneer directs participants to beat the present, standing bid. New bids should increase the present bid by a predefine
Assuming that there are only 2 airline companies in the world, Delta and US Airways, what is the ((Nash) Equilibrium) or price that each company in the following matrix will charge
Computer Game Zenda This game was invented by James Andreoni and Hal Varian; see their article, "Pre-Play Contracting in the Prisoners 'Dilemma".The paper also contains some co
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