EFFECTS OF A RATIONING RULE ON THE AUSUBEL AUCTION: A GENETIC ALGORITHM IMPLEMENTATION

摘要: The increasing use of auctions as a selling mechanism has led to growing interest in the subject. Thus both auction theory and experimental examinations these theories are being developed. A recent method used for carrying out on been design computational simulations. aim this article is develop genetic algorithm find automatically bidder optimal strategy while other players always bidding sincerely. To end specific dynamic multiunit selected: Ausubel auction, with private values, dropout information, several rationing rules implemented. provides (defined action be taken under different conditions) that maximizes bidder's payoff. tested environments differ elasticity their demand curves, number bidders quantity lots auctioned. results suggest approach leads strategies outperform sincere when needed.