A Theory of Auctions and Competitive Bidding.

reportActive / Technical Report | Accession Number: ADA123665 | Open PDF

Abstract:

In Section 2, we review some important results of the received auction theory, introduce a new general auction model, and summarize the results of our analysis. Section 3 contains a formal statement of our model, and develops the properties of affiliated random variables. The various theorems are presented in Sections 4-8. In Section 9, we offer our views on the current state of auction theory. Following Section 9 is a technical appendix dealing with affiliated random variables.

Author(s):
Milgrom, Paul R. ; Weber, Robert J.
Author Organization(s):
STANFORD UNIV CA INST FOR MATHEMATICAL STUDIES IN THE SOCIAL SCIENCES
Descriptive Note:
Technical rept.,
Supplementary Note:
Sponsored in part by Grants NSF-SES80-01932 and NSF-SOC77-06000.
Pagination:
0071

Security Markings

DOCUMENT & CONTEXTUAL SUMMARY

Distribution:
Approved For Public Release

RECORD

Collection: TR
Identifying Numbers
Report Number(s):
TR-358
Contract/Grant Number(s):
N00014-79-C-0685, N00014-77-C-0518
 Subject Terms
Joint Capability Areas:
JCA_5_Command and Control; JCA_5.3_Planning; JCA_5.3.1_Analyze Problem; JCA_1_Force Support; JCA_1.2_Force Preparation; JCA_1.2.3_Educating; JCA_1.2.5_Lessons Learned; JCA_8.1.1_Inform Domestic and Foreign Audiences; JCA_8.1_Communicate; JCA_8_Building Partnerships; JCA_5.4_Decide
Communities of Interest:
Weapons Technologies
Descriptor(s):
*ECONOMIC ANALYSIS, MATHEMATICAL MODELS, DECISION MAKING, RANDOM VARIABLES, PROBABILITY, SOCIOLOGY, DISTRIBUTION(ECONOMICS), THEOREMS, GAMBLING
Field(s)/Group(s):
Economics and Cost Analysis, Statistics and Probability
Keyword(s):
*Auctions, *Auction theory, *Competitive bidding
Report Date:
1981 Dec 01