Auction Mechanism

Advanced

Rules governing auctions.

Full Definition

Rules governing auctions.

Keywords

bidding rules

Domains

Agents & Autonomy

Related Terms

Vickrey Auction related to

Truthful bidding is optimal strategy.

 Market Design related to

Designing efficient marketplaces.

 Coordination Failure related to

Agents fail to coordinate optimally.

 Emergent Competition related to

Competition arises without explicit design.

 Mixed-Motive Game related to

Combination of cooperation and competition.

 Nash Equilibrium related to

No agent benefits from unilateral deviation.

 Pareto Optimality related to

No agent can improve without hurting another.

 Mechanism Design related to

Designing systems where rational agents behave as desired.

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