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| Katerina Sherstyuk |
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| ''Complexity and bidder behavior in iterative auctions'' |
| ( 2011, Vol. 31 No.4 ) |
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| We extend the finite automata approach to evaluate complexity of
strategies in iterative adjustment processes such as auctions.
Intuitively, a strategy's complexity is equal to the number of
different contingencies in which qualitatively different behaviors
are prescribed. Complexity may explain bidder choice of strategies in multi-unit iterative auctions. |
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| Keywords: ascending auctions; complexity; finite automata; experimental evidence |
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| Manuscript Received : Jan 19 2011 | | Manuscript Accepted : Oct 05 2011 |
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