Comments on "Reverse auction: the lowest positive integer game"
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Publication:6208066
arXiv0801.1535MaRDI QIDQ6208066FDOQ6208066
Authors: Adrian P. Flitney 
Publication date: 9 January 2008
Abstract: In Zeng et al. [Fluct. Noise Lett. 7 (2007) L439--L447] the analysis of the lowest unique positive integer game is simplified by some reasonable assumptions that make the problem tractable for arbitrary numbers of players. However, here we show that the solution obtained for rational players is not a Nash equilibrium and that a rational utility maximizer with full computational capability would arrive at a solution with a superior expected payoff. An exact solution is presented for the three- and four-player cases and an approximate solution for an arbitrary number of players.
Auctions, bargaining, bidding and selling, and other market models (91B26) (n)-person games, (n>2) (91A06)
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