Blind auction, Game Theory

Assignment Help:

 

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).

 


Related Discussions:- Blind auction

Procurement auction, A market mechanism during which an object, service, or...

A market mechanism during which an object, service, or set of objects is being purchased, instead of sold, to the auctioneer. The auction provides a selected set of rules which wil

Single unit auction, An auction during which just one item is on the market...

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

Battle of the sexes, scenario A wife and husband ready to meet this even...

scenario A wife and husband ready to meet this evening, but cannot remember if they will be attending the opera or a boxing match. Husband prefers the boxing match and wife pref

Extensive games with sumultaneous moves, consider the three player game in ...

consider the three player game in question 2 in assignment 1. Assume now that player 3 moves first. Players 1 and 2

Tic tac toe, i have to make a tic tac toe game in matlab i dun have any ide...

i have to make a tic tac toe game in matlab i dun have any idea what to do?

First worth auction, An auction during which the bidder who submitted the v...

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

Bidding ring, A set of colluding bidders. Ring participants agree to rig bi...

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.

Dominant strategy equilibrium, The following is a payoff matrix for a non-c...

The following is a payoff matrix for a non-cooperative simultaneous move game between 2 players. The payoffs are in the order (Player 1; Player 2): What is the Dominant Strat

Three words, if the first three words are "the boy''s down" what are the la...

if the first three words are "the boy''s down" what are the last three words?

Bernoulli, Eighteenth century Dutch mathematician codified the notion of ex...

Eighteenth century Dutch mathematician codified the notion of expected utility as a revolutionary approach to risk. He noted that folks don't maximize expected returns however expe

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd