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Toward a study of bidding processes part IV - games with unknown costs
Authors:James H. Criesmer  Richard E. Levitan  Martin Shubikt
Abstract:
This paper represents a continuation of three previous papers [1-.3] in the study of competitive bidding processes. It treats the case where a bidder's knowledge of his competitor's cost i s given by a probability distribution over a certain interval. The results obtained extend the work of Vickrey [4] to the case where the cost intervals a r e not necessarily symmetric.
Keywords:
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