game theory7 博弈论 英文

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1、IntroductiontoGameTheoryLecture7Disclaimer:thispresentationisonlyasupportingmaterialandisnotsufficienttomasterthetopicscoveredduringthelecture.Studyofrelevantbooksisstronglyrecommended.ApplicationsofNEandSPNEAuctionsSecond-PriceSealed-BidAuctionFirst-PriceSealed-BidAucti

2、onTodayAuctionsSecondPriceFirstPriceSummary2Usedtoallocate:ArtGovernmentbondsRadiospectrumForms:SequentialbiddingBidplacedinsealedenvelopesApplicationofGameTheoreticApproach:FindmosteffectivedesignAuctionsAuctionsSecondPriceFirstPriceSummary3Rules:bidderssequentiallysubm

3、itincreasingbidspersonthatmadecurrentbidwinsifnoonewishestosubmitahigherbideverybodyknowstheirpersonalvalueofanobject=>beforethebiddingstarts,everybidderknowstheir“maximalbid”thistypeofauctioniscalledEnglishAuctionAuction1AuctionsSecondPriceFirstPriceSummary4Bidderwithth

4、ehighestmaximalbidwinshepaysthesecondmaximalbidonlytwobiddersmatterfortheoutcomebidderwiththehighestmaximalbid–B1bidderwiththe2ndhighestmaximalbid–B2towin,B1hastobidonly“slightly”morethanmaximalbidofB2ifthebiddingincrementissmall->wetakethewinningpricetobeequaltothe2ndhi

5、ghestmaximalbidAuction1AuctionsSecondPriceFirstPriceSummary5Rules:allbidderssubmittheirbidssimultaneouslyallbiddersplacetheirbidsinsealedenvelopesbidderwiththehighestbidwinswinningbidderpaysthe2ndhighestbidthistypeofauctioniscalledSecondPriceSealedBidAuctionAuction2Aucti

6、onsSecondPriceFirstPriceSummary6Bidderwiththehighestmaximalbidwinshepaysthesecondmaximalbidonlytwobiddersmatterfortheoutcomebidderwiththehighestmaximalbid–B1bidderwiththe2ndhighestmaximalbid–B2towin,B1hastobidonly“slightly”morethanmaximalbidofB2priceisequaltothe2ndhighes

7、tmaximalbidAuction2AuctionsSecondPriceFirstPriceSummary7Auction1andAuction2leadtothesameoutcome:winneristhesamewinnerpaysthesamepriceAuction1andAuction2AuctionsSecondPriceFirstPriceSummary8AuctionasastrategicgamePlayers:nbiddersActions:allpossiblebids(nonnegativenumbers)

8、Payoffs:differencebetweenvalueandsecondhighestbidifwin,zerootherwiseSecondPriceSealedBidAuctionsSecondP