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We study a robust version of the single-unit auction problem. The auctioneer has confidence in her estimate of the marginal distribution of a generic bidder's valuation, but does not have reliable information about the joint distribution. In this setting, we analyze the performance of...
Persistent link: https://www.econbiz.de/10012871404
We develop an extension of Luce's random choice model that incorporates a role for the association of alternatives. Each alternative is characterized by a salience value, a Luce value, and its associated alternatives. The salience value captures the alternative's ability to attract the decision...
Persistent link: https://www.econbiz.de/10012993643