Dollar auction

Part of a series on
Auctions
Types
  • All-pay
    • Chinese
    • Bidding fee
  • Amsterdam
  • Anglo-Dutch
  • Barter double
  • Best/not best
  • Brazilian
  • Calcutta
  • Candle
  • Click-box bidding
  • Combinatorial
  • Common value
  • Deferred-acceptance
  • Discriminatory price
  • Double
  • Dutch
  • English
  • Forward
  • French
  • Generalized first-price
  • Generalized second-price
  • Japanese
  • Knapsack
  • Multi-attribute
  • Multiunit
  • No-reserve
  • Rank
  • Reverse
  • Scottish
  • Sealed first-price
  • Simultaneous ascending
  • Single-price
  • Traffic light
  • Uniform price
  • Unique bid
  • Value of revenues
  • Vickrey
  • Vickrey–Clarke–Groves
  • Walrasian
  • Yankee
Bidding
  • Shading
  • Calor licitantis
  • Cancellation hunt
  • Jump
  • Rigging
  • Sniping
  • Suicide
  • Tacit collusion
Contexts
  • Algorithms
  • Autos
  • Art
  • Charity
  • Children
  • Players
  • Domain names
  • Flowers
  • Loans
  • Scam
  • Slaves
  • Spectrum
  • Stamps
  • Virginity
  • Wine
  • Wives
Theory
  • Digital goods
  • Price of anarchy
  • Revenue equivalence
  • Winner's curse
Online
  • Ebidding
  • Private electronic market
  • Software

The dollar auction is a non-zero sum sequential game explored by economist Martin Shubik to illustrate how a short-sighted approach to rational choice can lead to decisions that are, in the long-run, irrational.[1]

  1. ^ Shubik: 1971. Page 109
This article is issued from Wikipedia. The text is available under Creative Commons Attribution-Share Alike 4.0 unless otherwise noted. Additional terms may apply for the media files.