Auction theory is a type of applied game theory that is concerned with allocation of goods if valuation of the buyers for the goods are unknown.
Winner's Curse Applet
Discussion of and applet demonstrating the winner's curse. The applet allows one to try different bidding strategies, and simulates results, calculating expected payoffs.
[Book Mozilla]
Last update:
January 2, 2007 at 17:56:10 UTC
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