Adversarial risk analysis for first-price sealed-bid auctions.

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dc.contributor.authorEjaz, Muhammaden_NZ
dc.contributor.authorJoshi, Chaitanyaen_NZ
dc.contributor.authorJoe, Stephenen_NZ
dc.date.accessioned2021-06-08T21:29:39Z
dc.date.available2021-06-08T21:29:39Z
dc.date.issued2021en_NZ
dc.description.abstractAdversarial risk analysis (ARA) is an upcoming methodology that is considered to haveadvantages over the traditional decision-theoretic and game-theoretic approaches. ARAsolutions for first-price sealed-bid (FPSB) auctions have been found but only under strongassumptions which make the model somewhat unrealistic. In this paper, we use ARAmethodology to model FPSB auctions using more realistic assumptions. We define a newutility function that considers bidders’ wealth, we assume a reserve price and find solutionsnot only for risk-neutral but also for risk-averse as well as risk-seeking bidders. We modelthe problem using ARA for non-strategic play and level-k thinking solution concepts.
dc.format.mimetypeapplication/pdf
dc.identifier.citationEjaz, M., Joshi, C., & Joe, S. (2021). Adversarial risk analysis for first-price sealed-bid auctions. Australian and New Zealand Journal of Statistics, Early View. https://doi.org/10.1111/anzs.12315en
dc.identifier.doi10.1111/anzs.12315en_NZ
dc.identifier.issn1369-1473en_NZ
dc.identifier.urihttps://hdl.handle.net/10289/14365
dc.language.isoen
dc.publisherWileyen_NZ
dc.relation.isPartOfAustralian and New Zealand Journal of Statisticsen_NZ
dc.rightsThis is an author’s submitted version of an article published in the journal: Australian and New Zealand Journal of Statistics. © 2021 Australian Statistical Publishing Association Inc. Published by John Wiley & Sons Australia Pty Ltd.
dc.subjectadversarial risk analysisen_NZ
dc.subjectBayesian game theoryen_NZ
dc.subjectBayesian methodsen_NZ
dc.subjectfirst-price sealed-bid auctionsen_NZ
dc.subjectStatisticsen_NZ
dc.titleAdversarial risk analysis for first-price sealed-bid auctions.en_NZ
dc.typeJournal Article
pubs.elements-id250606
pubs.organisational-group/Waikato
pubs.organisational-group/Waikato/2025 PBRF
pubs.organisational-group/Waikato/DHECS
pubs.organisational-group/Waikato/DHECS/2025 PBRF - DHEC
pubs.organisational-group/Waikato/DHECS/SCMS
pubs.organisational-group/Waikato/DHECS/SCMS/2025 PBRF - SCMS
pubs.publication-statusPublished onlineen_NZ
pubs.user.infoJoe, Stephen (stephenj@waikato.ac.nz)
pubs.user.infoJoshi, Chaitanya (cjoshi@waikato.ac.nz)
pubs.volumeEarly Viewen_NZ
uow.verification.statusverified
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