Robotics researchers have used auction-based coordination systems for robot teams because of their robustness and efficiency. However, there is no research into systematic methods for deriving appropriate bidding rules for given team objectives. In this paper, we propose the first such method and demonstrate it by deriving bidding rules for three possible team objectives of a multi-robot explor...

We investigate experimentally whether emotions affect bidding behavior in a first price auction. To induce emotions, we confront subjects after a first auction series with a positive or negative random economic shock. We then explore the relation between emotions and bidding behavior in a second auction series. Our main results are: (i) the economic shock has a substantial impact on the experie...

The simultaneous multiple-round auction (SMRA) and the combinatorial clock auction (CCA) are the two primarymechanisms used to sell bandwidth. Under truthful bidding, the SMRA is known to output a Walrasian equilibrium that maximizes social welfare provided the bidder valuation functions satisfy the gross substitutes property [20]. Recently, it was shown that the combinatorial clock auction (CC...

We generalize the Vickrey auction to allow for reserve pricing in a multi-unit auction with interdependent values. In the Vickrey auction with reserve pricing, the seller determines the quantity to be made available as a function of the bidders’ reports of private information, and then efficiently allocates this quantity among the bidders. Truthful bidding is a dominant strategy with private va...

Name-Your-Own-Price (NYOP) auctions have gained recent popularity on the Internet. In many NYOP settings, the auction firm displays multiple bidding items for the bidders (such as multiple options of airline tickets) and restricts them to place a single offer. Recent studies have, however, shown that the Internet environment enables many customers to engage in repeat bidding. Our purpose in thi...

We identify a self-enforcing collusion protocol (a “bidding ring”) for non-repeated first-price auctions. Unlike previous work on the topic such as that by McAfee and McMillan [1992] and Marshall and Marx [2007], we allow for the existence of multiple cartels in the auction and do not assume that non-colluding agents have perfect knowledge about the number of colluding agents whose bids are sup...

Recent measures to reduce Medicare spending include the use of competitive bidding in determining reimbursement prices. Several competitive bidding experiments have been conducted by the Centers for Medicare and Medicaid Services (CMS) to determine reimbursement prices. This paper investigates the use of competitive bidding to set reimbursement prices for durable medical equipment, prosthetics,...

This paper designs a novel fuzzy competition and attitude based bidding strategy (FCA-Bid), in which the final best bid is calculated on the basis of the attitude of the bidders and the competition for the goods in the market. The estimation of attitude is based on the bidding item’s attribute assessment, which adapts the fuzzy sets technique to handle uncertainty of the bidding process as well...

We run a large field experiment with an online company specializing in selling used automobiles via ascending auctions. We manipulate experimentally the maximum amount which bidders can bid above the current standing price, thus affecting the ease with which bidders can engage in jump bidding. We test between the intimidation vs. costly bidding hypotheses of jump bidding by looking at the effec...

Interactive pricing mechanisms integrate customers into the price-setting process by letting them submit bids. Name-your-own-price auctions are such an interactive pricing mechanism, where buyers’ bids denote the final price of a product or service in case they surpass a secret threshold price set by the seller. If buyers are given the flexibility to bid repeatedly, they might try to incrementa...