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A sequential auction is an auction in which several items are sold, one after the other, to the same group of potential buyers. In a sequential first-price
Sequential_auction
Form of bet
college basketball pools during March Madness. A Calcutta auction is a sequential auction in which the bidding for each contestant begins in random order
Calcutta_auction
Process of offering goods or services up for bids
French auction is a preliminary sealed-bid auction before the actual auction, whose reserve price it determines. A sequential auction is an auction where
Auction
Auction priced by second-highest sealed bid
are unsure of their own valuations, without sequential auctions. The dominant strategy in a Vickrey auction with a single, indivisible item is for each
Vickrey_auction
Game illustrating paradox in rational choice theory
The dollar auction is a non-zero sum sequential game explored by economist Martin Shubik to illustrate how a short-sighted approach to rational choice
Dollar_auction
Class of games where players choose their actions sequentially
illustrate how sequential games blend strategic depth with temporal dynamics. Simultaneous game Subgame perfect equilibrium Sequential auction Brocas; Carrillo;
Sequential_game
Bidding less than an item is worth in an auction
real world auction markets. Previous theoretical work on sequential auctions focused either on bid shading in an exogenous sequence of auctions, or on strategic
Bid_shading
winning value of that buyer). In a sequential auction, m {\displaystyle m} items are sold in consecutive auctions, one after the other. The common equilibrium
Price_of_anarchy_in_auctions
Type of auction which begins with a high asking price, and lowers it
that type of auction, said to be a "Method of Sale not hitherto used in England", the auctioneer began with a high price that was sequentially reduced until
Dutch_auction
Auction with one buyer and many potential sellers
A reverse auction (also known as buyer-determined auction or procurement auction) is a type of auction in which the traditional roles of buyer and seller
Reverse_auction
is also a parallel auction algorithm for weighted bipartite matching, described by E. Jason Riedy in 2004. The (sequential) auction algorithms for the
Auction_algorithm
Auction in which every bidder pays
In economics and game theory, an all-pay auction is an auction in which every bidder must pay regardless of whether they win the prize, which is awarded
All-pay_auction
Academic discipline
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Quantum_game_theory
Tendency to overestimate in auctions
The winner's curse is a phenomenon that may occur in common value auctions, where all bidders have the same (ex post) value for an item but receive different
Winner's_curse
British economic journalist
in Oxford with his wife and three children. Harford, Tim (1998). Sequential auctions with financially constrained bidders. ox.ac.uk (MPhil thesis). University
Tim_Harford
Government auction of radio spectrum
accepted on all licenses in each round of the auction until bidding stops on every license. Each round of sequential bidding rounds is followed by the release
Spectrum_auction
strategy) a game can have any number of Nash equilibria. Sequential game: A game is sequential if one player performs their actions after another player;
List_of_games_in_game_theory
Mathematical models of strategic interactions
insufficient for reasoning about sequential games; see subgame perfection. In short, the differences between sequential and simultaneous games are as follows:
Game_theory
Economics measure of willingness to pay
Vickrey auction Incentive compatibility Becker GM, DeGroot MH, Marschak J (July 1964). "Measuring utility by a single-response sequential method". Behav
Becker–DeGroot–Marschak method
Becker–DeGroot–Marschak_method
Branch of game theory about two-player sequential games with perfect information First-price auction – Auction where all participants concurrently submit
Combinatorial_auction
Model of conflict for two players in game theory
combat. The war of attrition is an auction in which both players pay the lower bid (an all-pay second price auction). The bids are assumed to be the duration
Chicken_(game)
American economist (born 1948)
together with Robert B. Wilson, "for improvements to auction theory and inventions of new auction formats". He is the co-creator of the no-trade theorem
Paul_Milgrom
Hand game for two players or more
the collection into separate auctions, Hashiyama asked the firms to decide between themselves who would hold the auction, which included Cézanne's Large
Rock_paper_scissors
Refinement of Nash equilibrium
Sequential equilibrium is a refinement of Nash equilibrium for extensive form games due to David M. Kreps and Robert Wilson. A sequential equilibrium
Sequential_equilibrium
Standard example in game theory
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Prisoner's_dilemma
Level of information in economics and game theory
expectations about how those players will behave. A typical example is an auction: each player knows their own utility function (valuation for the item)
Complete_information
Condition in economics and game theory
market prices, their own utility and cost functions. In game theory, a sequential game has perfect information if each player, when making any decision
Perfect_information
Game class in game theory
the actions chosen by other players. Simultaneous games contrast with sequential games, which are played by the players taking turns (moves alternate between
Simultaneous_game
Situation where total gains match total losses
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Zero-sum_game
Concept in game theory
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Shapley_value
Game in economic experiments
Fudenberg, Drew; Tirole, Jean (1991-04-01). "Perfect Bayesian equilibrium and sequential equilibrium". Journal of Economic Theory. 53 (2): 236–260. doi:10
Ultimatum_game
Problem in process of sharing surplus
as a non-cooperative game. The most common form of such game is called sequential bargaining. A two-person bargain problem consists of: A feasibility set
Cooperative_bargaining
Branch of game theory about two-player sequential games with perfect information
of mathematics and theoretical computer science that typically studies sequential games with perfect information. Research in this field has primarily focused
Combinatorial_game_theory
Experimental tool
is similar to the dictator game, but with an added first step. It is a sequential game involving two players, the trustor and the trustee. Initially called
Dictator_game
Model of humans as rational, self-interested agents
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Homo_economicus
Field in social science
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Peace_and_conflict_studies
Logical paradox in decision-making theory
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Paradox_of_tolerance
Facilitating a peaceful outcome to a dispute
remedy Rule of law Management Arbitration Alternative dispute resolution Auction Conciliation Family therapy Mediation Party-directed Negotiation Nonviolent
Conflict_resolution
Concept in game theory
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Focal_point_(game_theory)
Search algorithm
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Alpha–beta_pruning
Weakly optimal allocation of resources
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Pareto_efficiency
Human behavior pattern in which the participant takes on increasing risk
investment rescue package for troubled company WeWork during 2019. The dollar auction is a thought exercise demonstrating the concept. After a heated and aggressive
Escalation_of_commitment
Solution concept in game theory
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Evolutionarily stable strategy
Evolutionarily_stable_strategy
Economic model of competition
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Bertrand_competition
Game whose outcome can be correctly predicted
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Solved_game
Military strategy during the Cold War with regard to the use of nuclear weapons
remedy Rule of law Management Arbitration Alternative dispute resolution Auction Conciliation Family therapy Mediation Party-directed Negotiation Nonviolent
Deterrence_theory
Making of satisfactory, not optimal, decisions
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Bounded_rationality
Paper-and-pencil game for two players
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Tic-tac-toe
Game theory concept
do not require infinite sequential calculations, which is typical of strategic thinking in repeated games. Infinite sequential calculations would arise
Bayesian_game
Combinatorial game theory theorem
For the purposes of the Sprague–Grundy theorem, a game is a two-player sequential game of perfect information satisfying the ending condition (all games
Sprague–Grundy_theorem
Solution concept of a non-cooperative game
include traffic flow (see Wardrop's principle), how to organize auctions (see auction theory), the outcome of efforts exerted by multiple parties in the
Nash_equilibrium
Decrease in severity of conflicts
remedy Rule of law Management Arbitration Alternative dispute resolution Auction Conciliation Family therapy Mediation Party-directed Negotiation Nonviolent
De-escalation
Game theory scenario
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Win–win_game
Game where groups of players may enforce cooperative behaviour
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Cooperative_game_theory
Economic model
in which the leader firm moves first and then the follower firms move sequentially (hence, it is sometimes described as the leader-follower game). It is
Stackelberg_competition
Situation where all parties are worse off
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
No-win_situation
Complete plan on how a game player will behave in every possible game situation
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Strategy_(game_theory)
Concept in game theory
is a term used in game theory and economics to describe a threat in a sequential game that a rational player would not actually carry out, because it would
Non-credible_threat
Game theory concept
equilibrium concept, specifically designed for dynamic games where players make sequential decisions. A strategy profile is an SPE if it represents a Nash equilibrium
Subgame_perfect_equilibrium
Process of reasoning backwards in sequence
of backward induction is used to compute subgame perfect equilibria in sequential games. The difference is that optimization problems involve one decision
Backward_induction
Decision rule used for minimizing the possible loss for a worst-case scenario
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Minimax
Israeli psychologist (1937–1996)
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Amos_Tversky
English saying meaning "equivalent retaliation"
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Tit_for_tat
Israeli-American psychologist and economist (1934–2024)
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Daniel_Kahneman
Economist and winner of the 2020 Nobel Prize in Economics
management science and business economics. His doctoral thesis introduced sequential quadratic programming, which became a leading iterative method for nonlinear
Robert_B._Wilson
Concept in conflict studies
remedy Rule of law Management Arbitration Alternative dispute resolution Auction Conciliation Family therapy Mediation Party-directed Negotiation Nonviolent
Conflict_escalation
Pairing where no unchosen pair prefers each other over their choice
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Stable_matching_problem
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Outcome_(game_theory)
Hand game for two or more players
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Chopsticks_(hand_game)
Economic model
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Cournot_competition
Mathematical game
attainment of the game's Nash equilibrium. Keynesian beauty contest Unique bid auction Unexpected hanging paradox Duffy, John; Nagel, Rosemarie (1997-11-01).
Guess_2/3_of_the_average
Variation of minimax game tree search
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Negamax
Political model of international conflict resolution
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Two-level_game_theory
Representation of a game in game theory
each of player 2's strategies in this case. In order to represent this sequential game we must specify all of player 2's actions, even in contingencies
Normal-form_game
Economic phenomenon
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Tyranny_of_small_decisions
Conflict between safety and cooperation
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Stag_hunt
shorthand for SBB. A simple example of a WBB mechanism is the Vickrey auction, in which the operator wants to sell an object to one of n potential buyers
Budget-balanced_mechanism
In board games that cannot end in a draw, one of the two players has a winning strategy
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Zermelo's theorem (game theory)
Zermelo's_theorem_(game_theory)
Simple game studied in game theory
Revenue equivalence Border's theorem Applications Digital goods auction Knapsack auction Truthful cake-cutting Other topics Bertrand paradox Chainstore
Matching_pennies
Game theory model of aggression
it an all-pay sealed-bid second-price auction). To see how a war of attrition works, consider the all pay auction: Assume that each player makes a bid
War_of_attrition_(game)
Concept in game theory
This sequential reasoning process is complicated in games with imperfect information, requiring more sophisticated solution concepts like sequential equilibrium
Information_set_(game_theory)
American economist
OCLC 703744839. Richard Engelbrecht-Wiggans; Flavio M. Menezes (1993). Sequential auctions with continuation costs. Australian National University, Faculty
Richard_Engelbrecht-Wiggans
Overuse of a shared resource
In simultaneous play, all people harvest at the same time, whereas in sequential play people harvest from the pool according to a predetermined sequence –
Tragedy_of_the_commons
Finding an optimal algorithm for playing chess
Revenue equivalence Border's theorem Applications Digital goods auction Knapsack auction Truthful cake-cutting Other topics Bertrand paradox Chainstore
Solving_chess
Quality of a strategy in game theory
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Strategic_dominance
Preference of known risks to unknown risks
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Ambiguity_aversion
Subset of a game; used in game theory
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Subgame
Concept in game theory
mechanism exists. Typical examples of DSIC mechanisms are second-price auctions and a simple majority vote between two choices. Typical examples of non-DSIC
Incentive_compatibility
Dynamical system
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Replicator_equation
Solution concept in game theory
history (on actions taken previously in the game). This is similar to a sequential game. The belief of a player in a given information set determines what
Perfect_Bayesian_equilibrium
Experimental economics game
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Public_goods_game
American economist (born 1950)
choice models and non-cooperative game theory, particularly the idea of sequential equilibrium, which he developed with Stanford Business School colleague
David_M._Kreps
Simultaneous game found in game theory
Revenue equivalence Border's theorem Applications Digital goods auction Knapsack auction Truthful cake-cutting Other topics Bertrand paradox Chainstore
Coordination_game
Theorem in game theory
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Aumann's_agreement_theorem
conducted auctions to sell numbers. Currently, auctions are usually on Saturdays and sometimes on Sundays, and there are about two auctions per month
Vehicle registration plates of Hong Kong
Vehicle_registration_plates_of_Hong_Kong
Study of strategic decision making
[math.OC]. Jovanovic, Boyan; Rosenthal, Robert W. (1988). "Anonymous Sequential Games". Journal of Mathematical Economics. 17 (1): 77–87. doi:10
Mean-field_game_theory
Variant of Nash equilibrium in game theory
equilibrium is also a sequential equilibrium. A normal-form trembling hand perfect equilibrium of an extensive form game may be sequential but is not necessarily
Trembling hand perfect equilibrium
Trembling_hand_perfect_equilibrium
Neologism for cooperative competition
Outcome Perfect information Perfect recall Ply Preference Rationality Sequential game Simultaneous action selection Spite Strategic complements Strategic
Coopetition
Game theory concept
consisting of ballots to a winning candidate (the outcome). Similarly, an auction is a game form that takes each bidder's price and maps them to both a winner
Game_form
highest price is selected. Discriminatory pricing can be implemented sequentially by ordering the prices in decreasing order and giving the item to the
Bayesian-optimal_pricing
SEQUENTIAL AUCTION
SEQUENTIAL AUCTION
Surname or Lastname
South German
South German : occupational name for an official in charge of the legal auction of property confiscated in default of a fine; such a sale was known in Middle High German as a gant (from Italian incanto, a derivative of Late Latin inquantare ‘to auction’, from the phrase In quantum? ‘To how much (is the price raised)?’).German : metonymic occupational name for a cooper, from Middle High German ganter, kanter ‘barrel rack’.German : variant of Gander 3.English : occupational name for a glover, from Old French gantier, an agent derivative of gant ‘glove’ (see Gant).
SEQUENTIAL AUCTION
SEQUENTIAL AUCTION
Boy/Male
Hindu
Sum of the Vedas
Surname or Lastname
English
English : patronymic from Fill.
Girl/Female
Hindu, Indian
Daughter
Girl/Female
Muslim
Bismillah, Giving name
Girl/Female
Tamil
Rose
Girl/Female
Indian, Sikh
Dearly; Loveable; Kind
Surname or Lastname
English
English : apparently a habitational name, perhaps from Wembley in Greater London (formerly Middlesex), which is named with an unattested Old English personal name Wemba + lēah ‘woodland clearing’.
Boy/Male
Hindu
Lord Shiva
Girl/Female
American, Australian, British, Chinese, Christian, Danish, English, Finnish, German, Greek, Jamaican, Latin, Swedish
Bright One; Radiance; Pure; The Shining One; Bright and Shining; Daughter of Leda; Moon
Boy/Male
Hindu, Indian, Marathi
Lord Ganesha
SEQUENTIAL AUCTION
SEQUENTIAL AUCTION
SEQUENTIAL AUCTION
SEQUENTIAL AUCTION
SEQUENTIAL AUCTION
a.
Comprising sentences; as, a sentential translation.
n.
Public or open sale; auction.
adv.
In a sentential manner.
n.
A public sale of anything, by outcry, to the highest bidder; an auction.
n.
A meeting together of people, at a stated time and place, for the purpose of traffic (as in cattle, provisions, wares, etc.) by private purchase and sale, and not by auction; as, a market is held in the town every week.
a.
Of or pertaining to a sentence, or full period; as, a sentential pause.
a.
Succeeding or following in order.
n.
A broker or auctioneer; a tradesman.
v. t.
Public disposal to the highest bidder, or exposure of goods in market; auction.
a.
Comprising or representing sentences; sentential.
a.
Set up; fixed; determined; -- used chiefly or only in the phrase upset price; that is, the price fixed upon as the minimum for property offered in a public sale, or, in an auction, the price at which property is set up or started by the auctioneer, and the lowest price at which it will be sold.
a.
Of or pertaining to a sequestrum.
n.
A person who sells by auction; a person whose business it is to dispose of goods or lands by public sale to the highest or best bidder.
v. i. & t.
To cry or shout; hence, to sell by auction.
n.
The things sold by auction or put up to auction.
v. t.
To sell by auction; to auction.
n.
A public sale or auction.
n.
An outcry; hence, a sale of gods by auction.
v. t.
To sell by auction.
a.
Of or pertaining to an auction or an auctioneer.