Non-aggressive bidding behavior and the "winner's curse"

Previous authors have noted a curious result that arises in the context of sealed-bid auctions: in certain situations it is in the bidder's interest to respond non-aggressively to increased competition. We consider a decision-theoretic formulation of the bidder's problem, and deriv...

Повний опис

Бібліографічні деталі
Автор: Smith, James Lee
Формат: Working Paper
Мова:en_US
Опубліковано: MIT Energy Laboratory 2006
Предмети:
Онлайн доступ:http://hdl.handle.net/1721.1/32990