Decision Analysis: The Right Tool for Auctions

For bidders in standard sealed bid auctions, I believe that decision theory dominates game theory. Even in the design of auctions, decision theory competes well with game theory. This note explains why I have reached these conclusions.

• Type: Journal
• Year: 2007
• Where: DA
• Authors: Michael H. Rothkopf
• Keywords: DA 2007, Game Theory, Standard Sealed Bid, Theory