Decision Analysis: The Right Tool for Auctions

Michael H. Rothkopf ()
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Michael H. Rothkopf: Smeal School of Business, Pennsylvania State University, University Park, Pennsylvania 16802

Decision Analysis, 2007, vol. 4, issue 3, 167-172

Abstract: For bidders in standard sealed bid auctions, I believe that decision theory dominates game theory. Even in the design of auctions, decision theory competes well with game theory. This paper explains why I have reached these conclusions.

Keywords: bidding; auction design; game theory (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (32)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:ordeca:v:4:y:2007:i:3:p:167-172

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