2026-05-20T13:51:37.274Z http://ezaposleni.singidunum.ac.rs/rest/sciNaucniRezultati/oai

ezaposleni.singidunum.ac.rs/rest/sciNaucniRezultati/oai:1:2524 2014-06-10T22:11:46Z 1

Maximal Payoff Strategy for Vickery Auction Using Game Theory and Computer Algebra Systems 2014 http://ezaposleni.singidunum.ac.rs/rest/sciNaucniRezultati/oai/record/1/2524 M. Lutovac A. Lutovac The theory of auction was first formalized by William Vickery. His classical contribution was one of the standards in the Game theory and it is contained in standard textbooks. This is an auction in which the highest bidder wins but pays only the second-highest bid. This variation over the normal bidding procedure is supposed to encourage bidders to bid the largest amount they are willing to pay. Optimization of payoff strategy for Vickery auction can be programed using game theory and computer algebra systems, as it is presented in this paper. conferenceObject 66 70 10.15308/SInteZa-2014-66-70 Sinteza 2014 - Impact of Internet on Business Activities in Serbia