Evolutionary-stable strategies with increasing and decreasing marginal utilities in the Ausubel auction

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dc.contributor.author Mochón, Asunción
dc.contributor.author Quintana Montero, David
dc.contributor.author Sáez Achaerandio, Yago
dc.contributor.author Isasi Viñuela, Pedro
dc.date.accessioned 2009-04-20T07:39:05Z
dc.date.available 2009-04-20T07:39:05Z
dc.date.issued 2006-07
dc.identifier.bibliographicCitation IEEE Congress on Evolutionary Computation, 2006, CEC 2006. p. 2579-2586
dc.identifier.isbn 0-7803-9487-9
dc.identifier.uri http://hdl.handle.net/10016/4019
dc.description Congress on Evolutionary Computation. Vancouver, BC, 16-21 July 2006
dc.description.abstract A genetic algorithm has been developed to solve bidding strategies in a dynamic multi-unit auction: the Ausubel auction, with independent private values and without dropout information. The genetic algorithm aims to maximize each bidder’s payoff. To this end two experimental environments have been tested with decreasing and increasing marginal utilities. The bidding strategies are analyzed, along with their effects on revenue and efficiency. With decreasing marginal utilities the computational experiments yield to sincere bidding as the evolutionary-stable strategy, which is also the weakly dominant strategy and the ex post perfect equilibrium. Nevertheless, with increasing marginal utilities there is no theory model developed in order to find the equilibrium. Therefore, the challenge of this work is to study the auction outcome where theoretical predictions are unknown. The genetic algorithm finds bidding sincerely as the evolutionary-stable strategy with increasing marginal utilities.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.publisher IEEE
dc.rights © IEEE
dc.title Evolutionary-stable strategies with increasing and decreasing marginal utilities in the Ausubel auction
dc.type conferenceObject
dc.type bookPart
dc.relation.publisherversion http://dx.doi.org/10.1109/CEC.2006.1688630
dc.subject.eciencia Informática
dc.identifier.doi 10.1109/CEC.2006.1688630
dc.rights.accessRights openAccess
dc.relation.eventdate 16-21 July 2006
dc.relation.eventplace Vancouver (Canada)
dc.relation.eventtitle Congress on Evolutionary Computation
dc.relation.eventtype proceeding
dc.identifier.publicationfirstpage 2579
dc.identifier.publicationlastpage 2586
dc.identifier.publicationtitle IEEE Congress on Evolutionary Computation, CEC 2006
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