We consider multiple-principal multiple-agent games of incomplete information. In this context, we identify a class of direct and incentive compatible mechanisms: each principal privately recommends to each agent to reveal her private information to the other principals, and each agent behaves...

Bidders have to decide whether and when to incur the cost of estimating their own values in auctions. This can explain why people seem to get carried away, bidding higher than they had planned before the auction and then finding they had paid more than the object was worth to them. Even when...

Abstract Public procurement data sets usually lack detailed data that are needed to implement existing methods of collusion detection. We design a method to identify and test for bid rigging in procurement auctions using limited information. The method can be applied to limited data sets using...

This article examines the properties of independent-private-value all-pay and winner-pay auctions when there are multiple units sold. We study bidding behavior, efficiency, and revenue in a set of 23 experimental sessions. Our data show that the all-pay auction and the winner-pay auction are...

We model sequential, possibly multi-unit, sealed-bid auctions as a sequential game with imperfect and incomplete information. We develop an agent that constructs a bidding policy by sampling the valuation space of its opponents, solving the resulting complete information game, and aggregating...

We consider repeated zero-sum games with incomplete information on the side of Player 2 with the total payoff given by the non-normalized sum of stage gains. In the classical examples the value of such an N-stage game is of the order of N or of square root of N, as N tends to infinity.Our aim is...

The automated negotiation process seems to be a powerful mechanism to resolve disputes arising from Internet-based transactions. Automated negotiation is an online blind-bidding process in which an automated algorithm evaluates bids from the parties and settles the case if the offers are within...