Shapley-Folkman-Lyapunov theorem and Asymmetric First price auctions

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...

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Bibliographic Details
Main Authors: Josheski Dushko, Karamazova Elena, Apostolov Mico
Format: Article
Language:English
Published: Sciendo 2019-08-01
Series:Applied Mathematics and Nonlinear Sciences
Subjects:
shapley-folkman theorem
asymmetric auctions
backward shooting method
auction solving
fixed point iterations
c65
d44
Online Access:https://doi.org/10.2478/AMNS.2019.2.00029

Internet

https://doi.org/10.2478/AMNS.2019.2.00029

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