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Questions tagged [auction-theory]

For questions about auction theory, an applied branch of economics which deals with how people act in auction markets and researches the properties of auction markets.

Auction theory is an applied branch of economics which deals with how people act in auction markets and researches the properties of auction markets. There are many possible designs (or sets of rules) for an auction and typical issues studied by auction theorists include the efficiency of a given auction design, optimal and equilibrium bidding strategies, and revenue comparison. Auction theory is also used as a tool to inform the design of real-world auctions; most notably auctions for the privatization of public-sector companies or the sale of licenses for use of the electromagnetic spectrum.

Source: https://en.wikipedia.org/wiki/Auction_theory

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Brown Bears Bidding on Honey

I'm dealing with a problem where Brown Bears are bidding on a pot of honey. Imagine that we have $n$ Brown Bears $B_1,B_2,...,B_n,$ and brown bear $B_i$ values the honey pot $v_i \in \mathbb{R}^{+}.$ Consider a bidding structure where each brown…
Brian
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Math formula for voting system that takes candidate age into account.

I have the following problem (not exactly but close): I have a website where people can post their cats. Its called bestcat.com. Everyday people submit cats and people can vote once on their favorite cat. The cat with the most votes wins. But I also…
user2741831
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Sealed bid first price auction with 2 players.

I would like help with the following question; Consider a sealed bid first price auction with 2 players in which the valuation of each of the players is best described by a uniform distribution on [10, 30]. Identify a Nash equilibrium and show that…
Floris
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First Price Auctions

Please tell me where I am wrong? I am asking this because sub-question a) didn't went as expected. I hope I did the derivates well for b) Furthermore, should I add more reasoning at c)? My answers are:
Simeon A
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