Exploració per autor "Galster, Gorm"
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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 obertIn 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 ...