enow.com Web Search

Search results

1. Results from the WOW.Com Content Network

2. Auction - Wikipedia

   en.wikipedia.org/wiki/Auction

   The silent auction is a variant of the English auction in which bids are ... bid sheets usually have a fixed starting amount, predetermined bid increments, and a ...

3. First-price sealed-bid auction - Wikipedia

   en.wikipedia.org/wiki/First-price_sealed-bid_auction

   A first-price sealed-bid auction (FPSBA) is a common type of auction. It is also known as blind auction. [1] In this type of auction, all bidders simultaneously submit sealed bids so that no bidder knows the bid of any other participant. The highest bidder pays the price that was submitted. [2]: p2 [3]

4. Vickrey–Clarke–Groves auction - Wikipedia

   en.wikipedia.org/wiki/Vickrey–Clarke–Groves...

   A Vickrey–Clarke–Groves (VCG) auction is a type of sealed-bid auction of multiple items. Bidders submit bids that report their valuations for the items, without knowing the bids of the other bidders. The auction system assigns the items in a socially optimal manner: it charges each individual the harm they cause to other bidders. [1]

5. Vickrey auction - Wikipedia

   en.wikipedia.org/wiki/Vickrey_auction

   The uniform-price auction does not, however, result in bidders bidding their true valuations as they do in a second-price auction unless each bidder has demand for only a single unit. A generalization of the Vickrey auction that maintains the incentive to bid truthfully is known as the Vickrey–Clarke–Groves (VCG) mechanism. The idea in VCG ...

6. Revenue equivalence - Wikipedia

   en.wikipedia.org/wiki/Revenue_equivalence

   Suppose that a buyer has value v and bids b. His opponent bids according to the equilibrium bidding strategy. The support of the opponent's bid distribution is [0,B(1)]. Thus any bid of at least B(1) wins with probability 1. Therefore, the best bid b lies in the interval [0,B(1)] and so we can write this bid as b = B(x) where x lies in [0,1].

7. Bidding - Wikipedia

   en.wikipedia.org/wiki/Bidding

   For an example, suppose a property is coming up for auction and there is only one person interested in bidding for it in the room. The reserve has been set at $100,000, and this bidder is happy to buy it at $120,000. The bidding starts at $80,000. Without the auctioneer bidding on behalf of the vendor, it would never progress beyond that amount.