# Questions tagged [auctions]

Procedures in which participants submit bids, with resources being allocated among bidders in accordance with some pre-specified rule.

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### Public/private knowledge in auctions

Consider three firms that engage in a first-price auction. Firm $i$'s payoff when firm $j$ wins the auction is $S_{i,j}$, which is deterministic and publicly known. The winning firm $i$ has to pay ...
• 123
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### Single-item single-bidder: why posted price is the only possible DSIC mechanism?

I'm reading Tim Roughgarden's Twenty Lectures on Algorithmic Game Theory. Lecture 5 is on revenue-maximizing auctions. It claims that in the single-parameter qusilinear environment, for the extremely ...
• 263
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### Price achievable in sealed-bid pay-as-bid energy auctions

Situation I am modeling an auction-based electricity market. Lets assume they call an auction for 500MWh, and participants can submit bids of at least 1MWh for a given price of $x$ EUR/MWh. Each ...
• 111
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### Revenue-maximizing auction with no free disposal

Myerson has a famous theory that can be used to design truthful auctions maximizing the revenue of the seller. The simplest case is when a seller sells a single item to buyers whose values are ...
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### A Gamma-Weibull distribution for empirical auction model

I am reading Comparing Open and Sealed Bid Auctions: Evidence From Timber Auctions (working paper version) and struggling with getting a log likelihood function about a Gamma-Weibull distribution. In ...
• 195
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### First-order condition with arbitrary function

I am trying to use an auction model to simulate bids in a uniform price carbon emissions auction. That means it would be an auction with multiple bidders and one seller selling multiple units, or ...
• 61
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