Decision analysis: The right tool for auctions

Decision analysis: The right tool for auctions

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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:
Keywords: decision theory, game theory
Abstract:

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.

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