Bidding Game

Bidding Game

9 Pages · 2003 · 6.18 MB · English

In the late 1940s mathematician John Nash, then In some games the Nash equilibrium predicts an one economist, William Vickrey of Columbia.

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Using the minority game model we study a broad spectrum of problems of market mechanism. We study the role of .. agents. They rely on the generalization of the approach of Refs. [6,7]: the calculus is carried out in detail in Appendix C. Let us introduce Gspec, the total gain of the speculators and