How does a bidder determine their maximum willingness to pay in a second-price auction?

Apr 30, 2022 ... Second price auctions are auctions where the winner pays the second highest bid plus a small increment instead of the winning bid. For example, ... Oct 19, 2022 ... We study reserve price optimization in multi-phase second price auctions, where seller's prior actions affect the bidders' later valuations ... Author(s): Garratt, Rodney J.; Wooders, John | Abstract: Experiments on second-price sealed-bid private value auctions have established that subjects ... Such signals change bidders' perception about the 'strength' of their opponent, and the relationship between bidders' perception of their opponent and ... ... auction. As is the case with all games, the ... Mental processes and strategic equilibration: An fMRI study of selling strategies in second price auctions. Proceedings of the 31st International Conference on Machine Learning, PMLR 32(1):262-270, 2014. Abstract. Second-price auctions with reserve play a critical ... Jul 11, 2024 ... In this scenario, when both floors are implemented, bids that are lower than the hard floor are rejected instantly; whereas bids that are in ... Nov 14, 2005 ... Internet Advertising and the Generalized Second Price Auction: Selling Billions of Dollars Worth of Keywords ... We investigate the "generalized ... May 31, 2022 ... Walmart's advanced second-price auction is designed to prioritize ad relevancy. The winning item is based on the highest relevance and then the cost-per-click ... Oct 24, 2024 ... In a first-price auction setting, the minimum bids don't directly sway the final auction prices. Yet, they do play a role in shaping how bidders ...