Virtual Laboratory for Simulation and Gaming

Simulation of Auction Markets

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Auction Market - Buyer

Input Parameter

Auction Duration (in Sec)

Base Value (min 1000)

Minimum Increment (min 20)

No of Artificial Agents (min 5)

No of runs needed (min 1)

Auction Status

sec remaining

Bid	Bidder	Time Remaining

My Bid

Result

Winner

Winning Bid

In the winner's curse graph, the RED line shows the mean estimated value of the product and the BLUE line shows the bid and the bidders which are effected by winner's curse.

Developed by The Department of Industrial Systems and Engineering, IIT Kharagpur
This Project is funded by MHRD, Government of India.