Equilibrium bids in practical multi-attribute auctions

被引：11
|
作者：
Wang, Mingxi [1 ]
Liu, Shulin [1 ]
机构：
[1] Univ Int Business & Econ, Sch Int Trade & Econ, Beijing 100029, Peoples R China
来源：
ECONOMICS LETTERS | 2014年 / 123卷 / 03期
基金：
中国国家自然科学基金;
关键词：
Multi-attribute auctions; Bidding strategy; Winner determination; MULTIDIMENSIONAL AUCTIONS;
D O I：
10.1016/j.econlet.2014.03.021
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This article proposes a nonlinear scoring rule which transforms multiple attributes of a bid into comparable dimensionless ones. Practically, the buyer can use it to select the most competitive winner. For risk-neutral bidders, we characterize a symmetric Bayes-Nash equilibrium and find that as the number of bidders increases the equilibrium quality improves, whereas the equilibrium price decreases. (C) 2014 Elsevier B.V. All rights reserved.
引用
收藏
页码：352 / 355
页数：4
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