Symmetric auctions: finding numerical solutions by using auction solver

Josheski, Dushko (2018) Symmetric auctions: finding numerical solutions by using auction solver. Microeconomics: Production, Market Structure & Pricing eJournal.

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Abstract

This essay theoretically investigates symmetric types of auctions and provides simulation for the different types of statistical distributions that bidders follow in order to determine the maximum bid, Expected revenue for the auctioneer, Expected payment by bidders, Expected utility of the bidders, probability that item is unallocated. In addition, the subject of interest of this paper are three types of auctions: FPA (first price auction, Dutch type, SPA (Second price auction, English auction, Vickrey auction), APA (all-pay auctions)

Item Type: Article
Subjects: Social Sciences > Economics and business
Divisions: Faculty of Tourism and Business Logistics
Depositing User: Dusko Josevski
Date Deposited: 23 Jan 2018 12:06
Last Modified: 23 Jan 2018 12:06
URI: http://eprints.ugd.edu.mk/id/eprint/19056

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