Article ID: | iaor200945311 |
Country: | United States |
Volume: | 4 |
Issue: | 3 |
Start Page Number: | 167 |
End Page Number: | 172 |
Publication Date: | Sep 2007 |
Journal: | Decision Analysis |
Authors: | Rothkopf Michael H |
Keywords: | decision theory, game theory |
For bidders in standard sealed bid auctions, I believe that decision theory dominates game theory. Even in the design of auctions, decision theory competes well with game theory. This paper explains why I have reached these conclusions.