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Unique Bid Auction
A unique bid auction is a type of strategy game related to traditional auctions where the winner is usually the individual with the ''lowest'' unique bid, although less commonly the auction rules may specify that the ''highest'' unique bid is the winner. Unique bid auctions are often used as a form of competition and strategy game where bidders pay a fee to make a bid, or may have to pay a subscription fee in order to be able to participate. In practice, such auctions function like lotteries, but the small amount of "skill" involved makes them legal in jurisdictions where lotteries are otherwise illegal. Mechanism This type of auction requires bidders to place bids that are ''global unique bids''. That is, for a bid to be eligible to win no other bidder can have made a bid for the same amount. Bidders are generally able to place multiple bids and the number of current bids at each amount is typically kept secret. There are two major variants of unique bid auctions: * In a high ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategy Game
A strategy game or strategic game is a game in which the players' uncoerced, and often autonomous, decision-making skills have a high significance in determining the outcome. Almost all strategy games require internal decision tree-style thinking, and typically very high situational awareness. Strategy games are also seen as a descendant of war games, and define strategy in terms of the context of war, but this is more partial. A strategy game is a game that relies primarily on strategy, and when it comes to defining what strategy is, two factors need to be taken into account: its complexity and game-scale actions, such as each placement in the ''Total War'' video game series. The definition of a strategy game in its cultural context should be any game that belongs to a tradition that goes back to war games, contains more strategy than the average video game, contains certain gameplay conventions, and is represented by a particular community. Although war is dominant in strate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Auction
An auction is usually a process of Trade, buying and selling Good (economics), goods or Service (economics), services by offering them up for Bidding, bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different #Types, types. The branch of economic theory dealing with auction types and participants' behavior in auctions is called auction theory. The open ascending price auction is arguably the most common form of auction and has been used throughout history. Participants bid openly against one another, with each subsequent bid being higher than the previous bid. An auctioneer may announce prices, while bidders submit bids vocally or electronically. Auctions are applied for trade in diverse #Contexts, contexts. These contexts include antiques, Art auction, paintings, rare collectibles, expensive wine auction, wines, commodity, commodities, l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competition
Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc. The rivalry can be over attainment of any exclusive goal, including recognition. Competition occurs in nature, between living organisms which co-exist in the same environment. Animals compete over water supplies, food, mates, and other biological resources. Humans usually compete for food and mates, though when these needs are met deep rivalries often arise over the pursuit of wealth, power, prestige, and fame when in a static, repetitive, or unchanging environment. Competition is a major tenet of market economies and business, often associated with business competition as companies are in competition with at least one other firm over the same group of customers. Competition inside a compan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lottery
A lottery (or lotto) is a form of gambling that involves the drawing of numbers at random for a prize. Some governments outlaw lotteries, while others endorse it to the extent of organizing a national or state lottery. It is common to find some degree of regulation of lottery by governments. The most common regulations are prohibition of sale to minors and licensing of ticket vendors. Although lotteries were common in the United States and some other countries during the 19th century, by the beginning of the 20th century, most forms of gambling, including lotteries and sweepstakes, were illegal in the U.S. and most of Europe as well as many other countries. This remained so until well after World War II. In the 1960s, casinos and lotteries began to re-appear throughout the world as a means for governments to raise revenue without raising taxes. Lotteries come in many formats. For example, the prize can be a fixed amount of cash or goods. In this format, there is risk to the org ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reverse Charge Text Message
Reverse SMS billing or premium SMS service is a mechanism that allows the user of the recipient phone rather than the message sender to be charged for the cost of the SMS message received. It is also called MT (Mobile Terminated) Billing. Reverse-billed SMS messages are only sent if specifically requested by the phone user; however, many unscrupulous operators will send reverse-charged messages without prior consent of the recipient, which often go un-noticed by users on Pay As You Go plans without itemised billing. The consent may also be hidden in the fine print of an advertisement. A daily weather alert is an example of a service where regular reverse-billed messages are received. In some countries, providers are required by law or regulation to provide a means of opting out of a service once it has been commenced. Most typically, this is achieved by sending a stop message (most typically, simply ) to the same number as the service itself. See also * Collect call A collect ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
On-line Auction
An online auction (also electronic auction, e-auction, virtual auction, or eAuction) is an auction held over the internet and accessed by internet connected devices. Similar to in-person auctions, online auctions come in a variety of types, with different bidding and selling rules. eCommerce sales for businesses have been steadily increasing for years, and with the migration of virtually all transactions to digital due to the COVID-19 pandemic, worldwide sales through ecommerce channels such as websites and online marketplaces increased overall in 2020 and beyond. There are two primary markets for online auctions: business to business (B2B) and business to consumer (B2C). B2C is forecast to have over a 1% annual growth rate, achieving a nearly 22% share of total global retail sales by 2024. B2B ecommerce gross merchandise value showed a similarly steady rate through 2019, as to mirror its retail B2C counterpart. The largest consumer-to-consumer online auction site is eBay, which ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Game-theoretic
Game theory is the study of mathematical models of strategic interactions. It has applications in many fields of social science, and is used extensively in economics, logic, systems science and computer science. Initially, game theory addressed two-person zero-sum games, in which a participant's gains or losses are exactly balanced by the losses and gains of the other participant. In the 1950s, it was extended to the study of non zero-sum games, and was eventually applied to a wide range of behavioral relations. It is now an umbrella term for the science of rational decision making in humans, animals, and computers. Modern game theory began with the idea of mixed-strategy equilibria in two-person zero-sum games and its proof by John von Neumann. Von Neumann's original proof used the Brouwer fixed-point theorem on continuous mappings into compact convex sets, which became a standard method in game theory and mathematical economics. His paper was followed by ''Theory of Games and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nash Equilibrium
In game theory, the Nash equilibrium is the most commonly used solution concept for non-cooperative games. A Nash equilibrium is a situation where no player could gain by changing their own strategy (holding all other players' strategies fixed). The idea of Nash equilibrium dates back to the time of Cournot, who in 1838 applied it to his model of competition in an oligopoly. If each player has chosen a strategy an action plan based on what has happened so far in the game and no one can increase one's own expected payoff by changing one's strategy while the other players keep theirs unchanged, then the current set of strategy choices constitutes a Nash equilibrium. If two players Alice and Bob choose strategies A and B, (A, B) is a Nash equilibrium if Alice has no other strategy available that does better than A at maximizing her payoff in response to Bob choosing B, and Bob has no other strategy available that does better than B at maximizing his payoff in response to Alice c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lupi
Lupi may refer to: People * Alessandro Lupi (born 1970), Italian former professional football manager and former player * Carlos Lupi (born 1957), Brazilian professor and politician * Daniel Lupi (born 1961), American film producer * Darrin Zammit Lupi (born 1968), Maltese photographer and journalist * Didier Lupi Second (c.1520-after 1559), French composer * Dov Lupi (born 1948), Israeli-American gymnast * Francisco Lupi (1920–1954), Portuguese chess master * Giorgia Lupi (born 1981), Italian information designer * Giovanni Lupi, commonly known as Nino, (1908–1990), Swiss footballer * Giuseppe Lupi (1894, date of death unknown), Italian gymnast * Ignazio Lupi (1867–1942), Italian actor and film director * Italo Lupi (1934–2023), Italian graphic designer and writer * Johannes Lupi (c. 1506–1539), Franco-Flemish composer * Leonardo Lupi (born 1972), Venezuelan footballer * Maurizio Lupi (born 1959), Italian politician * Miguel Ângelo Lupi (1826–1883), Portuguese pain ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Svenska Spel
Svenska Spel () is a state-owned company operating in the regulated gambling market in Sweden. For many years, the company was the only one permitted to offer online gambling to people in Sweden, whether it be casino games, sports betting, or other types of games. All profits from the company's activities are paid directly to the State Treasury of Sweden. Svenska Spel organizes sports and number lotteries. The Swedish gambling reforms attempt to strike a balance between giving players the freedom to choose and protecting them from bad actors. It conducts sales through approximately 6,700 agents, 2,000 restaurants, pubs, and bingo halls as well as via the Internet. The surplus from the company’s operations is paid directly to the Public Treasury. History The company was founded in 1 January 1997 by the merger of the two state companies, Penninglotteriet () and Tipstjänst (). The headquarters is located in Visby, Sweden. Tipstjänst was founded in 1934, and later nationali ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Focal Point (game Theory)
In game theory, a focal point (or Schelling point) is a solution that people tend to choose by default in the absence of communication in order to avoid Coordination game#Experimental results, coordination failure. The concept was introduced by the American economist Thomas Schelling in his book ''The Strategy of Conflict'' (1960). Schelling states that "[p]eople ''can'' often concert their intentions or expectations with others if each knows that the other is trying to do the same" in a cooperative situation (p. 57), so their action would converge on a focal point which has some kind of prominence compared with the environment. However, the conspicuousness of the focal point depends on time, place and people themselves. It may not be a definite solution. Existence The existence of the focal point is first demonstrated by Schelling with a series of questions. Here is one example: to determine the time and place to meet a stranger in New York City, but without being able to communi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guess 2/3 Of The Average
In game theory, "guess of the average" is a game where players simultaneously select a real number between 0 and 100, inclusive. The winner of the game is the player(s) who select a number closest to of the average of numbers chosen by all players. History Alain Ledoux is the founding father of the "guess of the average" game. In 1981, Ledoux used this game as a tie breaker in his French magazine :fr:Jeux et Stratégie, Jeux et Stratégie. He asked about 4,000 readers, who reached the same number of points in previous puzzles, to state an integer between 1 and 1,000,000,000. The winner was the one who guessed closest to of the average guess. Rosemarie Nagel (1995) revealed the potential of guessing games of that kind: They are able to disclose participants' "depth of reasoning." Equilibrium analysis In this game, there is no dominance (game theory), strictly dominant strategy, but there are strongly dominated strategies. There is a unique pure strategy Nash equilibrium. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
