auction-first-price-shading
Auction First-Price Shading
Table of Contents
Example
Scenario: Domain-neutral sealed-bid auction. A bidder must submit a blind bid for an item whose private value to them is 28 units of budget currency. Six other bidders are expected to compete. Values across bidders look roughly uniform. The bidder is mildly risk-averse (0.2) and has 89 units of budget remaining.
Inputs:
true_value = 28n_bidders_estimate = 6value_distribution = "uniform"risk_aversion = 0.2budget_remaining = 89
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