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

页码：352 / 355

页数：4

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