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Prof. Dr. Jürgen Dix · Department of Informatics, TUC Multiagent Systems, WS 06/07 316/731 4. Decision Making (2) 3. Auctions What is the best strategy in Vickrey auctions? Theorem 4.22 (Private-value Vickrey auctions) The dominant strategy of a bidder in a Private-value Vickrey auction is to bid the true valuation. Therefore it is equivalent to English auctions. Vickrey auctions are used to allocate computation resources in operating systems, allocate bandwidth in computer networks, control building heating.
of. Dr. Jürgen Dix · Department of Informatics, TUC Multiagent Systems, WS 06/07 317/731 4. Decision Making (2) 3. Auctions Are first-price auctions better for the auctioneer than second-prize auctions? Theorem 4.23 (Expected Revenue) All 4 types of protocols produce the same expected revenue to the auctioneer (assuming (1) private value auctions, (2) values are independently distributed and (3) bidders are risk-neutral).
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9. Agents based on FOL 1. First Ord
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9. Agents based on FOL 4. (Con-)Gol
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9. Agents based on FOL 7. Reference
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Multiagent Systems

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