Flow-based resource allocation in a multiple-access wireless market-setting using an auction

Multiple equilibria in symmetric strategies for simultaneous auctions in next-generation bandwidth markets

“…In this section we study the formal equilibrium characteristics of multiple independently managed auctions when bidders are allowed to split their bids in order to aggregate shares of the resource from several auctions. Assuming PSP is used by each auctioneer, we are concerned with the convergence to equilibrium at each auction when every bidder uses a bidding strategy known as BalancedBid [5].…”

“…The aggregated bid is a virtual construct and is only used internally by each bidder to derive the split bids to the auctions to ensure that the overall demand expressed in the market corresponds to the bidder's demand. with /θ i (0) being a factor by which each bid is reduced to avoid ties in bidding price between players and therefore, the utility from the aggregated market increases by at least , 5 where…”

“…We aim at understanding if bidders have incentives to reveal their true valuation in a market consisting of multiple PSP auctions. We therefore first present the bidding strategy, BalancedBid [5], which mimics truthful bidding when bidders are allowed to split their bids to bundle resources from several auctions. We then show that this bidding strategy is the myopic /epsilon-best response for all bidders in such a situation.…”

“…The following definition for deriving the single bids to the auctions is called BalancedBid Definition 3.5. (BalancedBid) [5] Under Assumption 3.1 and Definition 3.4 the balanced bid t…”

“…In this paper we investigate equilibrium properties of a bidding strategy, first defined in [5], in a situation in which bidders attempt to purchase a given amount of a divisible resource by bidding on multiple auctions. A bidder may aggregate shares of the resource obtained from some of the auctions, and needs to coordinate his bids to optimise the overall utility derived from each auction.…”