Combinatorial auction — A combinatorial auction is a type of smart market in which participants can place bids on combinations of discrete items, or “packages,” rather than just individual items or continuous quantities. Simple combinatorial auctions have been used for… … Wikipedia
Auction — Auctioneer redirects here. For the DC Comics supervillain, see Auctioneer (comics). An auctioneer and her assistants scan the crowd for bidders. An auction is a process of buying and selling goods or services by offering them up for bid, taking… … Wikipedia
Combinatorial optimization — In applied mathematics and theoretical computer science, combinatorial optimization is a topic that consists of finding an optimal object from a finite set of objects.[1] In many such problems, exhaustive search is not feasible. It operates on… … Wikipedia
Auction algorithm — The term auction algorithm applies to several variations of a combinatorial optimization algorithm which solves assignment problems, including forward/reverse auction algorithms. An auction algorithm has been used in a business setting to… … Wikipedia
Vickrey auction — A Vickrey auction is a type of sealed bid auction, where bidders submit written bids without knowing the bid of the other people in the auction. The highest bidder wins, but the price paid is the second highest bid. The auction was created by… … Wikipedia
Vernon L. Smith — Infobox Scientist name = Vernon L. Smith image size = 150px birth date = Birth date and age|1927|1|1|mf=y birth place = Wichita, Kansas, U.S. nationality = United States field = Economics work places = Chapman University 2007 George Mason… … Wikipedia
R. Mark Isaac — is an American academic who uses experimental economics to address basic microeconomic problems. His work has provided new empirical insights for many traditional economic problems, particularly cooperation and collective action problems.… … Wikipedia
Electronic negotiation — represents an important and desirable coordination mechanism for electronic markets. Negotiation between agents allows cooperative and competitive sharing of information to determine a proper price.Recent research and practice has also shown that … Wikipedia
Private electronic market — A private electronic market (PEM) utilises the internet to connect a limited number or pre qualified buyers or sellers in one market. PEMs are a hybrid between perfectly open markets (e.g. exchanges where there is no pre existing relationship… … Wikipedia
Cooperative game — This article is about a part of game theory. For video gaming, see Cooperative gameplay. For the similar feature in some board games, see cooperative board game In game theory, a cooperative game is a game where groups of players ( coalitions )… … Wikipedia
Minimax — This article is about the decision theory concept. For other uses, see Minimax (disambiguation). Minimax (sometimes minmax) is a decision rule used in decision theory, game theory, statistics and philosophy for minimizing the possible loss for a… … Wikipedia