Abstract

It's considered a multi-item first price closed auction with asymmetric bidders and one seller under competition. This base auction can be modeled as a non-zero sum game with discontinuous payoff functions. It's shown that in this game exist unique Nash equilibrium in mixed strategies when antimonopoly and competition conditions are accomplished. Then it's investigated also a multistage repeated auction with described base auction as a single step. It's derived sufficient conditions when a cooperative cartel solution is time consistent. To construct the imputation in models of profit allocation and to compute transaction (cost allocation as a dual problem) is used the solution of the base auction game.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.