Construct · 1 fields · 1 citations

optimal auction: a standalone construct

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Game theory

the auction rule that maximizes the seller's expected revenue, showing that many formats yield equal revenue under standard assumptions.

In game theory, optimal auction refers to the auction rule that maximizes the seller's expected revenue, showing that many formats yield equal revenue under standard assumptions. This meaning comes from Myerson (1981) in Mathematics of Operations Research.[1]

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Nearby constructs

mechanism4 fields · 4 citationsjingle · one word, four constructs game2 fields · 3 citationsjingle · one word, two constructs operation1 fields · 1 citationsanchor · a standalone construct

References

Myerson, R. B. (1981). Optimal Auction Design. Mathematics of Operations Research, 6(1), 58-73. https://doi.org/10.1287/moor.6.1.58

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