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1. Symmetric Bayesian-Nash Equilibrium of Simultaneous Vickrey Auctions with Perfect Substitutes | |||
Bu Tianming,Qi Qi | |||
Computer Science and Technology 08 January 2013 | |||
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Abstract:This paper studies the model that there are two simultaneous one-round sealed-bid second-price/Vickrey auctions. Each auction sells on eidentical object. For each bidder, there is no extra benefit from winning more than one object. This model is in spired by the similar phenomenon appears pervasively on eBay which is the world’s largest online marketplace for businesses and consumers to auction off goods through it. The paper focuses on the buyers’s trategic behavior in this model. The symmetric Bayesian-Nash equilibria under several constraints are characterized. In addition, the expected total revenue under the symmetric Bayesian-Nash equilibrium of simultaneous Vickrey auctions is analyzed. | |||
TO cite this article:Bu Tianming,Qi Qi. Symmetric Bayesian-Nash Equilibrium of Simultaneous Vickrey Auctions with Perfect Substitutes[OL].[ 8 January 2013] http://en.paper.edu.cn/en_releasepaper/content/4509967 |
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