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With second-price auctions, the PoA is again unbounded. These results are surprising and they emphasize the importance of the design decision of using a first-price auction (rather than a second-price auction) in each round. Case 4: submodular buyers [9] (note that additive and unit-demand are special cases of submodular): With both 1st-price ...
Priceline.com, an online travel agency offered a name your own price option. However, by 2005, Priceline began to de-emphasize this system, [10] and added published price options on its websites. [9] A 2014 academic study showed that posted prices can guarantee higher profitability to service providers than the name-your-own-price mechanism. [11]
However, online auction sites, unlike live auctions, usually have an automatic bidding system which allows a bidder to enter their maximum acceptable bid. This is a hidden or proxy bid, known to the system, but not any other bidders; during the auction the actual bid is incremented only enough to beat the existing highest bid. For example, if ...
The auction awarded rights to build vast flotillas of wind turbines 20 miles off the coasts of San Luis Obispo and Humboldt counties. This was supposed to be a clarifying moment in California’s ...
An online auction (also electronic auction, e-auction, virtual auction, or eAuction) is an auction held over the internet and accessed by internet connected devices. [ 1 ] [ 2 ] [ 3 ] Similar to in-person auctions, online auctions come in a variety of types , with different bidding and selling rules.
Two Indian chemical companies have been indicted for allegedly importing ingredients for the highly addictive opioid fentanyl into the United States and Mexico, the U.S. Department of Justice said ...
MONTEVIDEO/BRUSSELS (Reuters) -European Commission President Ursula von der Leyen landed in Uruguay on Thursday seeking to finalize a long-delayed trade deal between the European Union and South ...