Experiments with probabilistic quantum auctions

DOI10.1007/S11128-008-0079-4zbMATH Open1160.81325arXiv0707.4195OpenAlexW2133291484MaRDI QIDQ1007115FDOQ1007115

Tad Hogg, Kay-Yut Chen

Publication date: 27 March 2009

Published in: Quantum Information Processing (Search for Journal in Brave)

Abstract: We describe human-subject laboratory experiments on probabilistic auctions based on previously proposed auction protocols involving the simulated manipulation and communication of quantum states. These auctions are probabilistic in determining which bidder wins, or having no winner, rather than always having the highest bidder win. Comparing two quantum protocols in the context of first-price sealed bid auctions, we find the one predicted to be superior by game theory also performs better experimentally. We also compare with a conventional first price auction, which gives higher performance. Thus to provide benefits, the quantum protocol requires more complex economic scenarios such as maintaining privacy of bids over a series of related auctions or involving allocative externalities.

Full work available at URL: https://arxiv.org/abs/0707.4195

zbMATH Keywords

experimental economicsquantum gamesauctionsquantum economics

Mathematics Subject Classification ID

Auctions, bargaining, bidding and selling, and other market models (91B26) Quantum computation (81P68)

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• Quantum games: a review of the history, current state, and interpretation
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• A quantum approach to play asymmetric coordination games
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