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  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
1

Some Notes about Generalized Second-price Auction

Chen, Tzu-yin 01 July 2011 (has links)
We discuss main facts of symmetric Nash equilibrium (SNE) of position auction proposed by Varian (2007). Then we describe more features in detail, such as (1) non-zero surplus of each bidder, (2) allocative and also Pareto efficiency in SNE and (3)the condition of existence of honest strategy in SNE. After that, we propose a best-response bidding strategy for repeated simultaneous position auction of incomplete information with simulation. This approach offers an explanation that how bidders may follow public information to achieve the same equilibrium of lower bound of SNE in the static model. Furthermore, the best-response bidding strategy has following merits: (1) non-zero surplus of each bidder in each round, (2) low information requirement for each bidder¡¦s calculation, (3) much lower increasing rate of rounds than increasing rate of positions and (4) easier rule for bidders to get started with.

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