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Optimal auctions and information disclosure

✍ Scribed by Alex Gershkov


Publisher
Elsevier Science
Year
2009
Tongue
English
Weight
147 KB
Volume
13
Category
Article
ISSN
1434-4750

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Fuzzy formulation of auctions and optima
✍ Shu-Cherng Fang; Henny W.L. Nuttle; Dingwei Wang πŸ“‚ Article πŸ“… 2004 πŸ› Elsevier Science 🌐 English βš– 319 KB

Current research on auctions is mainly based on the game theory. In the ΓΏrst part of this paper, we propose a fuzzy set based formulation of auctions. We deΓΏne fuzzy sets to represent the seller and buyers' valuations, bid possibilities and win possibilities. Analyzing the properties of these fuzzy