Distributed Risk Aversion Parameter Estimation for First-Price Auction in Sensor Networks
Following the Internet, the Internet of Things (IoT) becomes a prime vehicle for supporting auction. The use of market mechanisms to solve computer science problems is gaining significant traction. More and more clues show that the bidders tend to be risk-averse ones. However, traditional nonparamet...
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| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2013-12-01
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| Series: | International Journal of Distributed Sensor Networks |
| Online Access: | https://doi.org/10.1155/2013/795630 |
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| _version_ | 1832547919197110272 |
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| author | Xin An Shuo Xu Jiancheng Chen Yuan Zhang |
| author_facet | Xin An Shuo Xu Jiancheng Chen Yuan Zhang |
| author_sort | Xin An |
| collection | DOAJ |
| description | Following the Internet, the Internet of Things (IoT) becomes a prime vehicle for supporting auction. The use of market mechanisms to solve computer science problems is gaining significant traction. More and more clues show that the bidders tend to be risk-averse ones. However, traditional nonparametric approach is only applicable for the case of risk neutrality in a centralized server. This study proposes a generalized nonparametric structural estimation procedure for the first-price auctions in the distributed sensor networks. To evaluate the performance of the aggregated parameter estimators, extensive Monte Carlo simulation experiments are conducted for ten different values of risk aversion parameters including the risk neutrality case in multiple classic scenes. Moreover, in order to improve the usability of the aggregated parameter estimators, some guidance is also given for real-world applications. |
| format | Article |
| id | doaj-art-6304bf38edf847d9bc1883bb02c88914 |
| institution | Kabale University |
| issn | 1550-1477 |
| language | English |
| publishDate | 2013-12-01 |
| publisher | Wiley |
| record_format | Article |
| series | International Journal of Distributed Sensor Networks |
| spelling | doaj-art-6304bf38edf847d9bc1883bb02c889142025-02-03T06:42:59ZengWileyInternational Journal of Distributed Sensor Networks1550-14772013-12-01910.1155/2013/795630795630Distributed Risk Aversion Parameter Estimation for First-Price Auction in Sensor NetworksXin An0Shuo Xu1Jiancheng Chen2Yuan Zhang3 School of Economics and Management, Beijing Forestry University, No. 35 Qinghua East Road, Haidian, Beijing 100083, China Information Technology Support Center, Institute of Scientific and Technical Information of China, No. 15 Fuxing Road, Haidian, Beijing 100038, China School of Economics and Management, Beijing Forestry University, No. 35 Qinghua East Road, Haidian, Beijing 100083, China School of Economics and Management, Beijing Forestry University, No. 35 Qinghua East Road, Haidian, Beijing 100083, ChinaFollowing the Internet, the Internet of Things (IoT) becomes a prime vehicle for supporting auction. The use of market mechanisms to solve computer science problems is gaining significant traction. More and more clues show that the bidders tend to be risk-averse ones. However, traditional nonparametric approach is only applicable for the case of risk neutrality in a centralized server. This study proposes a generalized nonparametric structural estimation procedure for the first-price auctions in the distributed sensor networks. To evaluate the performance of the aggregated parameter estimators, extensive Monte Carlo simulation experiments are conducted for ten different values of risk aversion parameters including the risk neutrality case in multiple classic scenes. Moreover, in order to improve the usability of the aggregated parameter estimators, some guidance is also given for real-world applications.https://doi.org/10.1155/2013/795630 |
| spellingShingle | Xin An Shuo Xu Jiancheng Chen Yuan Zhang Distributed Risk Aversion Parameter Estimation for First-Price Auction in Sensor Networks International Journal of Distributed Sensor Networks |
| title | Distributed Risk Aversion Parameter Estimation for First-Price Auction in Sensor Networks |
| title_full | Distributed Risk Aversion Parameter Estimation for First-Price Auction in Sensor Networks |
| title_fullStr | Distributed Risk Aversion Parameter Estimation for First-Price Auction in Sensor Networks |
| title_full_unstemmed | Distributed Risk Aversion Parameter Estimation for First-Price Auction in Sensor Networks |
| title_short | Distributed Risk Aversion Parameter Estimation for First-Price Auction in Sensor Networks |
| title_sort | distributed risk aversion parameter estimation for first price auction in sensor networks |
| url | https://doi.org/10.1155/2013/795630 |
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