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Submission Deadline: 10:00pm 22 October 2014 Task 1 (30%):  Consider an auction market where there are two items, a and b, to sell to two bidders,  Bidder 1 and Bidder 2. The valuation of these bidders is shown as follows: ∅ {a} {b} {a,b} Bidder 1 0 8 6 12 Bidder 2 0 5 7 11 Assume that the auction is run under dynamic auction procedure. Let (pa, pb) be a  price vector where pa represents the price of item a and pb the price of item b. Question 1: At price p=(2, 3), ...

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Tags: Australia  New South Wales  University of western Sydney  E-markets Intelligent agents for e markets 

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