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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).
A strategy is weakly dominant if, no matter what the other players do, the strategy earns a player a payoff a minimum of as high as the other strategy, and, the strategy earns a st
A class of games of imperfect data during which one player (the principal) tries to supply incentives to the opposite (the agent) to encourage the agent to act within the principal
While ancient auctions involve one seller and plenty of consumers, a reverse auction typically involves several sellers and one buyer. for instance, procurement auctions are used t
This condition is based on a counting rule of the variables included and excluded from the particular equation. It is a necessary but no sufficient condition for the identi
Consider two quantity-setting firms that produce a homogeneous good. The inverse demand function for the good is p = A - (q 1 +q 2 ). Both firms have a cost function C = q 2 (a
can i analyse all games under trigger strategies or it''s possible just for prisoners dilemma?
Equilibrium payoffs are (2, 3, 2). Player A’s equilib- rium strategy is “N and then N if b follows N or N if d follows N” or “Always N.” Player B’s equilibrium strategy is “b if N
mixed strategy game with ordinal and cardinal payoffs example please
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
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/are the Nash Equil
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