auction_projects

this project explores different types of auctions, including outcry and sealed bid, best strategy based on the 1st and 2nd price auction

AuctionSim.py

1. plot the bidding function of 2nd price and 1st price auction
2. compute expected revenue given various underlying distributions of other bidders' values
3. calculate the best reserve price for a 2nd price auction

For more info, please see "auctions-simulations_analysis.pdf"

Auction_SB_OO.py

1. Learn about auctions to build a competitive bid function that at- tempts to maximize your revenue

• build a bidding function, and then simulate a number of di↵erent situations. • Price format: 1st price auction & 2nd price auction • Auction format: “SB” for sealed bid
“OO” for open-outcry. • Bid history: The bid history is an ordered list of dictionaries.