Putting your money where your mouth is – on commitment in auctions | with Vitali Gretschko

In this episode, Vitali Gretschko sheds some light on a fundamental game theoretic concept: Commitment. He explains why commitment is a crucial prerequisite of auctions and introduces different ways of generating commitment. We also explore how commitment is linked to the concept of information and discuss auction concepts which make it less likely for the auctioneer to break their commitment afterwards. Vitali Gretschko is Professor of Market Design at the University of Mannheim and head of the ZEW Research Department "Market Design". In the interview, Vitali mentions papers explaining how to use cryptography to create commitment in mechanism designs. You can find them here and here.

Om Podcasten

In Game Changer, the podcast by TWS Partners, we want to share our enthusiasm and passion for game theory and its applications. We invite guests from business and academia to discuss how they use the power of game theory in their profession to make a difference – and to learn some fun anecdotes, useful facts and valuable insights along the way. Join us on this journey, and find out that game theory is much more than a topic for ivory tower discussions.