Tuesday, November 8, 2011

11/08/11

-->In Vickrey auction truthfully bidding the amount at which you value the object is the most optimal bidding strategy.
-->In the Generalized Second Price Auction (multi-object Vickrey mechanism) truthful bidding is not a dominant strategy. All of the i highest bidders should pay the same price: the i+1st highest                 bid.

-Aamir