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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
Games with Sequential Moves Most students find the idea of rollback very simple and natural, even without drawing or understanding trees. Of course, they start by being able to
In any game, payoffs are numbers that represent the motivations of players. Payoffs might represent profit, quantity, "utility," or different continuous measures (cardinal payoffs)
A general term for an English auction in which there is no reserve price, guaranteeing that the object will be sold to the highest bidder regardless of the quantity of the bid.
why might an airline offer the following deal: you pay 400 for a round trip ticket from here to orlando, but you only pay 300 per ticket if you stayy in orlando includes a saturday
A sequential game is one during which players build choices (or choose a strategy) following an exact predefined order, and during which a minimum of some players will observe the
Game 1 Color Coordination (with Delay) This game should be played twice, once without the delay tactic and once with it, to show the difference between out- comes in the s
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
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
A type of sequential second worth auction, just like an English auction during which an auctioneer frequently raises the present worth. Participants should signal at each worth lev
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