Bayesian-optimal mechanism
id:
bayesian-optimal-mechanism-239-299718
title:
Bayesian-optimal mechanism
text:
A Bayesian-optimal mechanism (BOM) is a mechanism in which the designer does not know the valuations of the agents for whom the mechanism is designed, but the designer knows that they are random variables and knows the probability distribution of these variables. A typical application is a seller who wants to sell some items to potential buyers. The seller wants to price the items in a way that will maximize their profit. The optimal prices depend on the amount that each buyer is willing to pay
brand slug:
wiki
category slug:
encyclopedia
description:
original url:
https://en.wikipedia.org/wiki/Bayesian-optimal_mechanism
date created:
date modified:
2023-11-19T10:07:15Z
main entity:
{"identifier":"Q25304802","url":"https://www.wikidata.org/entity/Q25304802"}
image:
fields total:
13
integrity:
13