Shapley-Folkman-Lyapunov theorem and Asymmetric First price auctions
In this paper non-convexity in economics has been revisited. Shapley-Folkman-Lyapunov theorem has been tested with the asymmetric auctions where bidders follow log-concave probability distributions (non-convex preferences). Ten standard statistical distributions have been used to describe the bidder...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Sciendo
2019-08-01
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| Series: | Applied Mathematics and Nonlinear Sciences |
| Subjects: | |
| Online Access: | https://doi.org/10.2478/AMNS.2019.2.00029 |