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Auction Game Day CSCI 364 Spring 2017 Oberlin College April 14, 2017 Worksheet Due: Wednesday April 26 at 11:00 AM Welcome to the second Game Day in CSCI 364 (Artificial Intelligence)! Today, we will be practicing with the different auction mechanisms systems to see how resources can be allocated between agents, and how agents acquire things that give them utility. In particular, we will be auctioning off some Google swag, as well as some baked goods. As a reminder, the auction episodes include: Auction Auction Type 1 English 2 Japanese 3 Dutch 4 Vickrey 6 English 7 Japanese 8 Dutch Dark Chocolate Brownies Energy Cookies from Blue Rooster (Gluten Free, Vegan, Almonds, Peanuts) Sugar Cookies One Google Bag Lemon and Chai Cupcakes from Blue Rooster (Vegan) Dark Chocolate Brownies 2.0 (Peanut Butter Chips) Dark Chocolate Brownies Sealed, First-Price Two Google Bags 10 Vickrey Sugar Cookies 11 English Croissants 12 Japanese 13 Dutch 14 15 Valuation Sealed, First-Price Croissants 5 9 Item Sugar Cookies Chocolate Toffee Pecan Cookies from Blue Rooster (Gluten Free, Pecans) Sealed, First-Price Sugar Cookies Vickrey Dark Chocolate Brownies 2.0 (Peanut Butter Chips) It might help to rewrite your private valuations in the table above. Your primary goal is to maximize your utility by acquiring items in the auction for a lower cost than your valuation. You will have $2000 of play money to spend across all auctions. Groups will be penalized for spending more than their initial allocation. For the open cry auctions, bidders will indicate their bids by holding up a sign of paper with their group’s name. For the sealed bid auctions, we will once again use Google Forms to submit bids electronically. Only one group member should bid for their entire group. In the spaces provided below, because keep track of (1) your group’s decisions during each auction, as well as (2) what you observe in each auction (e.g., notes about other groups that might help you know how to bid in future auctions). Auctions 1-5: First Set of Auctions Auction 1: English Auction: Dark Chocolate Brownies Your valuation ________ Winning Bid: ___________ Winning Group: _________________ Your bids (if any): Your utility gain (if any): Other Observations: Auction 2: Japanese Auction: Energy Cookies from Blue Rooster (Gluten Free, Vegan, Almonds, Peanuts) Your valuation ________ Winning Bid: ___________ Winning Group: _________________ Your bids (if any): Your utility gain (if any): Other Observations: Auction 3: Dutch Auction: Sugar Cookies Your valuation ________ Winning Bid: ___________ Winning Group: _________________ Your bids (if any): Your utility gain (if any): Other Observations: Auction 4: First Price Sealed Bid Auction: Croissants Your valuation ________ Winning Bid: ___________ Winning Group: _________________ Your bids (if any): Your utility gain (if any): Other Observations: Auction 5: Vickrey Auction: One Google Bag Your valuation ________ Winning Bid: ___________ Winning Group: _________________ Your bids (if any): Your utility gain (if any): Other Observations: Auction Day Mid-Game Analysis 1 Take a couple minutes to reflect on what you’ve seen so far in the auctions. Do you want to revise your strategies for bidding? If so, in what ways, and why? Auctions 6-10: Second Set of Auctions Auction 6: English Auction: Lemon and Chai Cupcakes from Blue Rooster (Vegan) Your valuation ________ Winning Bid: ___________ Winning Group: _________________ Your bids (if any): Your utility gain (if any): Other Observations: Auction 7: Japanese Auction: Dark Chocolate Brownies 2.0 (Peanut Butter Chips) Your valuation ________ Winning Bid: ___________ Winning Group: _________________ Your bids (if any): Your utility gain (if any): Other Observations: Auction 8: Dutch Auction: Dark Chocolate Brownies Your valuation ________ Winning Bid: ___________ Winning Group: _________________ Your bids (if any): Your utility gain (if any): Other Observations: Auction 9: First Price Sealed Bid Auction: Two Google Bags Your valuation ________ Winning Bid: ___________ Winning Group: _________________ Your bids (if any): Your utility gain (if any): Other Observations: Auction 10: Vickrey Auction: Sugar Cookies Your valuation ________ Winning Bid: ___________ Winning Group: _________________ Your bids (if any): Your utility gain (if any): Other Observations: Auction Day Mid-Game Analysis 2 Take a couple minutes to reflect on what you’ve seen so far in the auctions. Now would you like to revise your strategies for bidding? If so, in what ways, and why? Auctions 11-15: Final Set of Auctions Auction 11: English Auction: Croissants Your valuation ________ Winning Bid: ___________ Winning Group: _________________ Your bids (if any): Your utility gain (if any): Other Observations: Auction 12: Japanese Auction: Sugar Cookies Your valuation ________ Winning Bid: ___________ Winning Group: _________________ Your bids (if any): Your utility gain (if any): Other Observations: Auction 13: Dutch Auction: Chocolate Toffee Pecan Cookies from Blue Rooster (Gluten Free, Pecans) Your valuation ________ Winning Bid: ___________ Winning Group: _________________ Your bids (if any): Your utility gain (if any): Other Observations: Auction 14: First Price Sealed Bid Auction: Sugar Cookies Your valuation ________ Winning Bid: ___________ Winning Group: _________________ Your bids (if any): Your utility gain (if any): Other Observations: Auction 15: Vickrey Auction: Dark Chocolate Brownies 2.0 (Peanut Butter Chips) Your valuation ________ Winning Bid: ___________ Winning Group: _________________ Your bids (if any): Your utility gain (if any): Other Observations: Auction Day Post-game Calculate your total utility as the sum of the money you did not spend plus the utility gained (or lost) from winning auctions. Take a few minutes to reflect on what you observed during the auctions. Were your bidding strategies effective? What do you do well, and what might you have changed? What were your lessons learned during the game day?