Abstract
Auctions are procedures for selling one or more items to one or more bidders. Auctions induce games among the bidders, so notions of equilibrium from game theory can be applied to auctions. Auction theory aims to characterize and compare the equilibrium outcomes for different types of auctions. Combinatorial auctions arise when multiple-related items are sold simultaneously.
| Original language | English (US) |
|---|---|
| Title of host publication | Encyclopedia of Systems and Control |
| Publisher | Springer |
| Pages | 47-50 |
| Number of pages | 4 |
| ISBN (Electronic) | 9781447150589 |
| ISBN (Print) | 9781447150572 |
| DOIs | |
| State | Published - Jan 1 2015 |
Keywords
- Auction
- Combinatorial auction
- Game theory
ASJC Scopus subject areas
- General Engineering
- General Social Sciences
- General Mathematics
- General Chemical Engineering
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