A Theory of Auctions and Competitive Bidding.

Abstract

In Section 2, we review some important results of the received auction theory, introduce a new general auction model, and summarize the results of our analysis. Section 3 contains a formal statement of our model, and develops the properties of affiliated random variables. The various theorems are presented in Sections 4-8. In Section 9, we offer our views on the current state of auction theory. Following Section 9 is a technical appendix dealing with affiliated random variables.

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Document Details

Document Type
Technical Report
Publication Date
Dec 01, 1981
Accession Number
ADA123665

Entities

People

  • Paul R. Milgrom
  • Robert J. Weber

Organizations

  • Stanford University

Tags

Communities of Interest

  • Materials and Manufacturing Processes
  • Weapons Technologies

DTIC Thesaurus Topics

  • Boundaries
  • Differential Equations
  • Economics
  • Equations
  • Game Theory
  • Inequalities
  • Military Research
  • Natural Resources
  • New York
  • Operations Research
  • Probability
  • Probability Distributions
  • Psychology
  • Random Variables
  • Social Sciences
  • Theorems
  • United States

Fields of Study

  • Mathematics

Readers

  • Defense Financial Management and Audit.
  • Game Theory.
  • Systems Analysis and Design