A progressive second price (PSP) auction mechanism was proposed in (Semret, Liao, Campbell & Lazar 2000) for network bandwidth allocation. In this paper a quantized version of this mechanism (Q-PSP) is analyzed where the agents have similar demand functions and submit bids synchronously. It is shown that the non-linear dynamics induced by this mechanism are… (More)
On the rapid convergence of a class of decentralized decision processes: Quantized progressive second price auctions. Confirmation of a reflected appraisal mechanism operating in the opinion dynamics of deliberative groups issue sequences.