Dynamic Simulation Study Of The 1st-price Sealed Auction

As a traditional way of market exchange, auction and invite public bidding are approbated by the bargainers and public for their justice and honesty. The theory of auction and invite public bidding is developed profoundly by Game Theory. Game Theory analyzes the establishment of the incentives,the equivalence of different profit,the confirmation of equilibrium price based on the theory of auction and bidding, and it also makes computer simulation program possible to simulate the process of auction and bidding with some hypothesis.Integrating with various of methods to research economic problem has become a global learning trend. Computer simulation integrates economic theory, mathematics and computer science together. Based on the analysis of economic problem and our real economic life, computer simulation can describe these economic phenomena with program and research them effectively. This kind of researching method studies the reciprocity of people or people with the economic environment considering the problem of the profit-interactional agents' strategy choice in the economic system.The thesis carries out the test of the equilibrium bid on the first-price sealed auction which was established by professor Wang Wenju by using simulation technology and attempts to research the up-one economic field by the method of economic simulation. This thesis builds the game analysis model of the first-price sealed auction based on the established framework and the rules and processes of the auction in the real life. And it also simulates the action in the game analysis model and tests the result of the model simultaneously. The simulation model is approached to the real economic action by using the complex adaptive system theory of the system science. In the simulation process, the economic agents change their actions in the simulation process by unceasing learning, what makes the simulation model really describe the real economic circs. And this thesis compares the simulation result with the game analysis model and puts forward some significant conclusion.In addition, I have a full view of the general problems in the process of establishing simulation model and comprehend the general step of the economic simulation model by doing some further consideration.