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Experiments with probabilistic quantum auctions

Experiments with probabilistic quantum auctions We describe human-subject laboratory experiments on probabilistic auctions based on previously proposed auction protocols involving the simulated manipulation and communication of quantum states. These auctions are probabilistic in determining which bidder wins, or having no winner, rather than always having the highest bidder win. Comparing two quantum protocols in the context of first-price sealed bid auctions, we find the one predicted to be superior by game theory also performs better experimentally. We also compare with a conventional first-price auction, which gives higher performance. Thus to provide benefits, the quantum protocol requires more complex economic scenarios such as maintaining privacy of bids over a series of related auctions or involving allocative externalities. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Quantum Information Processing Springer Journals

Experiments with probabilistic quantum auctions

Chen, Kay-Yut; Hogg, Tad
Quantum Information Processing , Volume 7 (4) – Aug 16, 2008
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References (32)

Publisher
Springer Journals
Copyright
Copyright © 2008 by Springer Science+Business Media, LLC
Subject
Physics; Quantum Information Technology, Spintronics; Quantum Computing; Data Structures, Cryptology and Information Theory; Quantum Physics; Mathematical Physics
ISSN
1570-0755
eISSN
1573-1332
DOI
10.1007/s11128-008-0079-4
Publisher site
See Article on Publisher Site

Abstract

We describe human-subject laboratory experiments on probabilistic auctions based on previously proposed auction protocols involving the simulated manipulation and communication of quantum states. These auctions are probabilistic in determining which bidder wins, or having no winner, rather than always having the highest bidder win. Comparing two quantum protocols in the context of first-price sealed bid auctions, we find the one predicted to be superior by game theory also performs better experimentally. We also compare with a conventional first-price auction, which gives higher performance. Thus to provide benefits, the quantum protocol requires more complex economic scenarios such as maintaining privacy of bids over a series of related auctions or involving allocative externalities.

Journal

Quantum Information Processing – Springer Journals

Published: Aug 16, 2008

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