Accession Number : ADA123665


Title :   A Theory of Auctions and Competitive Bidding.


Descriptive Note : Technical rept.,


Corporate Author : STANFORD UNIV CA INST FOR MATHEMATICAL STUDIES IN THE SOCIAL SCIENCES


Personal Author(s) : Milgrom,Paul R ; Weber,Robert J


Full Text : http://www.dtic.mil/get-tr-doc/pdf?AD=ADA123665


Report Date : Dec 1981


Pagination or Media Count : 71


Abstract : In Section 2, we review some important results of the received auction theory, introduce a new general auction model, and summarize the results of our analysis. Section 3 contains a formal statement of our model, and develops the properties of affiliated random variables. The various theorems are presented in Sections 4-8. In Section 9, we offer our views on the current state of auction theory. Following Section 9 is a technical appendix dealing with affiliated random variables.


Descriptors :   *ECONOMIC ANALYSIS , MATHEMATICAL MODELS , DECISION MAKING , RANDOM VARIABLES , PROBABILITY , SOCIOLOGY , DISTRIBUTION(ECONOMICS) , THEOREMS , GAMBLING


Subject Categories : Economics and Cost Analysis
      Statistics and Probability


Distribution Statement : APPROVED FOR PUBLIC RELEASE