1 Imagine an auction mechanism that is just like an ascending-bid auction, except that at the end,...

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1 Imagine an auction mechanism that is just like an ascending-bid auction, except that at the end, the winning bidder, the one who bid bmax, pays only bmax/2 rather than bmax.

Assuming all agents are rational, what is the expected revenue to the auctioneer for this mechanism, compared with a standard ascending-bid auction?

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Artificial Intelligence A Modern Approach

ISBN: 9781292024202

3rd Edition

Authors: Stuart Russell

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Question Posted: Oct 08, 2024 02:01 AM

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1 Imagine an auction mechanism that is just like an ascending-bid auction, except that at the end,...

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Artificial Intelligence A Modern Approach

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