ICEC '06 Proceedings of the 8th international conference on Electronic commerce: The new e-commerce: innovations for conquering current barriers, obstacles and limitations to conducting successful business on the internet
Concepts inSequential versus simultaneous auctions: a case study
Strategy (game theory)
A player's strategy, in game theory, refers to one of the options he can choose in a setting where the outcome depends not only on his own actions but on the action of others. A player's strategy will determine the action the player will take at any stage of the game. A strategy profile (sometimes called a strategy combination) is a set of strategies for each player which fully specifies all actions in a game. A strategy profile must include one and only one strategy for every player.
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Auction
An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder. In economic theory, an auction may refer to any mechanism or set of trading rules for exchange.
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Nash equilibrium
In game theory, Nash equilibrium (named after John Forbes Nash, who proposed it) is a solution concept of a game involving two or more players, in which each player is assumed to know the equilibrium strategies of the other players, and no player has anything to gain by changing only his own strategy unilaterally.
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English auction
An English auction is a type of auction, whose most typical form is the "open outcry" auction. The auctioneer opens the auction by announcing a Suggested Opening Bid, a starting price or reserve for the item on sale and then accepts increasingly higher bids from the floor consisting of buyers with a possible interest in the item. Unlike sealed bid auctions, "open outcry" auctions are "open" or fully transparent as the identity of all bidders is disclosed to each other during the auction.
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Probability distribution
In probability theory, a probability mass, probability density, or probability distribution is a function that describes the probability of a random variable taking certain values. For a more precise definition one needs to distinguish between discrete and continuous random variables. In the discrete case, one can easily assign a probability to each possible value: when throwing a die, each of the six values 1 to 6 has the probability 1/6.
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Ex-ante
The term ex-ante (sometimes written ex ante or exante) is a phrase meaning "before the event". Ex-ante is used most commonly in the commercial world, where results of a particular action, or series of actions, are forecast in advance (or intended). The opposite of ex-ante is ex-post (actual). Examples: In the financial world, the ex-ante return is the expected return of an investment portfolio.
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Uniform distribution (continuous)
In probability theory and statistics, the continuous uniform distribution or rectangular distribution is a family of probability distributions such that for each member of the family, all intervals of the same length on the distribution's support are equally probable. The support is defined by the two parameters, a and b, which are its minimum and maximum values. The distribution is often abbreviated U(a,b).
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Profit (accounting)
In accounting, profit is the difference between the purchase price and the component costs of delivered goods and/or services and any operating or other expenses.
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