• Equilibrium strategy and population-size effects in lowest unique bid auctions 

      Pigolotti, Simone; Bernhardsson, Sebastian; Juul, Jeep; Galster, Gorm; Vivo, Pierpaolo (2012-02-22)
      Article
      Accés obert
      In lowest unique bid auctions, N players bid for an item. The winner is whoever places the lowest bid, provided that it is also unique. We use a grand canonical approach to derive an analytical expression for the equilibrium ...