Symmetric Auctions: Finding Numerical Solutions by using Auction Solver

32 Pages Posted: 5 Jan 2018 Last revised: 8 Jan 2018

Date Written: January 1, 2018

Abstract

This essay theoretically investigates symmetric types of auctions and provides simulation for the different types of statistical distributions that bidders follow in order to determine the maximum bid, Expected revenue for the auctioneer, Expected payment by bidders, Expected utility of the bidders, probability that item is unallocated. In addition, the subject of interest of this paper are three types of auctions: FPA (first price auction, Dutch type, SPA (Second price auction, English auction, Vickrey auction), APA (all-pay auctions).

Keywords: symmetric auctions, first price auction, Dutch type, Second price auction, English auction, Vickrey auction, all-pay auctions

JEL Classification: D44

Suggested Citation

Josheski, Dushko, Symmetric Auctions: Finding Numerical Solutions by using Auction Solver (January 1, 2018). Available at SSRN: https://ssrn.com/abstract=3095793 or http://dx.doi.org/10.2139/ssrn.3095793

Dushko Josheski (Contact Author)

University Goce Delcev ( email )

Stip
Macedonia
+389 32 550 000 (Phone)
+389 32 390 700 (Fax)

HOME PAGE: http://www.ugd.edu.mk/

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