Computers can assist in optimizing the design of these events, which can involve choosing structures based on the first and second (*) price.
The incentive to reveal all information during these events is known as the linkage principle. Game theory analysis of these events was pioneered by William Vickrey. Computers can assist in optimizing the design of these events, which can involve choosing structures based on the first and second (*) price. Interactive varieties of these events, like the English and Dutch types, contrast with ones that use sealed envelopes. The "winner's curse" involves overpaying in - for 10 points - what kind of event common in the art market, in which goods are bid on?
The incentive to reveal all information during these events is known as the linkage principle.
auctions [prompt on games]