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Module Learning Objectives:
- To understand the purpose and importance of auctions in real life
- To understand the phenomena of winner's curse, risk-reward dependence, and bidder competition.'
- To learn the basics of Simulation
- To apply the simulation procedure to auctions and validate above phenomena
Module Assignments:
- First go through the theory and video thoroughly
- Download the Auction Simulator package and conduct experiments as instructed
- Complete the on-line quiz to evaluate your learning
Click here : Procedure to setup system and run experiments