The Price of Anarchy (PoA) is a concept in game theory and mechanism design that measures how the social welfare of a system degrades due to selfish behavior...

The Price of Anarchy (PoA) is a concept in economics and game theory that measures how the efficiency of a system degrades due to selfish behavior of its...

A first-price sealed-bid auction (FPSBA) is a common type of auction. It is also known as blind auction. In this type of auction, all bidders simultaneously...

Vickrey auctions are much studied in economic literature but uncommon in practice. Generalized variants of the Vickrey auction for multiunit auctions exist...

auctions were used in ancient times. Descending-price auctions were used in 17th-century Holland for estate sales and paintings. The Dutch manner of auctioning...

extension of the Vickrey auction, it conserves some of the desirable properties of the Vickrey auction. It is used mainly in the context of keyword auctions, where...

mechanism. Milgrom, Paul (2004). Uniform Price Auctions. In Putting Auction Theory to Work. Churchill Lectures in Economics. p. 255-295. doi:10.1017/CBO9780511813825...

price, despite their own proxy valuation. Open ascending-bid auctions (English auctions) are the oldest, and possibly most common, type of auction in...

Single-price auctions are a pricing method in securities auctions that give all purchasers of an issue the same purchase price. They can be perceived...

include government bond auctions, electricity market auctions and compliance certificate markets. In theory, the uniform-price auction provides an incentive...