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Sequential auctions for common value objects with budget constrained bidders

Record type: Article

This paper analyzes sequential auctions for budget constrained bidders, for multiple heterogeneous common value objects. In most auctions, bidders not only have valuations for objects but also have budget constraints (i.e., constraints on how much they can actually spend in an auction). Given these constraints, the bidders’ problem is to determine how much to bid in each auction. To this end, this paper analyzes the strategic behavior of bidders and determines the equilibrium bidding strategies for the individual auctions that constitute a series. We do this in an incomplete information setting where the bidders are uncertain about their budget constraints, and obtain equilibrium bidding strategies for the participants in individual auctions in a series.

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Citation

Fatima, Shaheen, Wooldridge, M and Jennings, Nick (2010) Sequential auctions for common value objects with budget constrained bidders Int. Journal of Multiagent and Grid Systems, 6, (5), pp. 403-414.

More information

Published date: 2010
Organisations: Agents, Interactions & Complexity

Identifiers

Local EPrints ID: 271610
URI: http://eprints.soton.ac.uk/id/eprint/271610
PURE UUID: 64c73b01-63a8-43a8-8916-8c3fdd784dae

Catalogue record

Date deposited: 02 Oct 2010 18:13
Last modified: 18 Jul 2017 06:40

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Contributors

Author: Shaheen Fatima
Author: M Wooldridge
Author: Nick Jennings

University divisions


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