Maximal Payoff Strategy for Vickery Auction using Game Theory and Computer Algebra Systems

Izdanje: Sinteza 2014 - Impact of the Internet on Business Activities in Serbia and Worldwide

DOI: 10.15308/sinteza-2014-66-70

Link: https://doi.org/10.15308/sinteza-2014-66-70

Apstrakt:
The theory of auction was first formalized by William Vickery. His classical contribution was one of the standards in the Game theory and it is contained in standard textbooks. This is an auction in which the highest bidder wins but pays only the second-highest bid. This variation over the normal bidding procedure is supposed to encourage bidders to bid the largest amount they are willing to pay. Maximal payoff strategy for Vickery auction can be programed using game theory and computer algebra systems, as it is presented in this paper
Ključne reči: auction , Game theory, computer algebra systems
Kategorije objave: Radovi na konferenciji Sinteza 2014, Beograd, Srbija Radovi sa konferencija

Preuzimanje citata:

BibTeX format 
@article{article,
  author  = {M. Lutovac and A. Lutovac}, 
  title   = {Maximal Payoff Strategy for Vickery Auction using Game Theory and Computer Algebra Systems},
  journal = {Sinteza 2014 - Impact of the Internet on Business Activities in Serbia and Worldwide},
  year    = 2014,
  doi     = {10.15308/sinteza-2014-66-70}
}
RefWorks Tagged format 
RT Conference Proceedings
A1 Miroslav Lutovac
A1 Aleksandra Lutovac
T1 Maximal Payoff Strategy for Vickery Auction using Game Theory and Computer Algebra Systems
AD Međunarodna naučna konferencija Sinteza, Beograd, Srbija
YR 2014
NO doi: 10.15308/sinteza-2014-66-70
Unapred formatirani prikaz citata
M. Lutovac and A. Lutovac, Maximal Payoff Strategy for Vickery Auction using Game Theory and Computer Algebra Systems, Međunarodna naučna konferencija Sinteza, 2014, doi:10.15308/sinteza-2014-66-70