Expected Auction Revenue

Calculate theoretical expected revenue for an auction format assuming bidders’ valuations are uniformly distributed on [0,1]. By the Revenue Equivalence Theorem, all standard auction formats yield the same expected revenue under certain conditions. Returns analytical expected revenue formula result. Use for auction format comparison and revenue forecasting. [Tier: STANDARD, Credits: 2]

POST /quantlib/economics/auctions/expected-revenue

Expected Auction Revenue

cURL

curl --request POST \
  --url https://api.fincept.in/quantlib/economics/auctions/expected-revenue \
  --header 'Content-Type: application/json' \
  --header 'X-API-Key: <api-key>' \
  --data '
{
  "auction_type": "second_price",
  "n_bidders": 5
}
'

200

{
  "success": true,
  "data": {
    "auction_type": "second_price",
    "n_bidders": 5,
    "expected_revenue": 0.667
  }
}

Authorizations

X-API-Key · string · header · required

API key for authentication. Get your key at https://api.fincept.in/auth/register

Body

application/json

auction_type · enum<string> · required

Type of auction mechanism

Available options: first_price, second_price, all_pay

Example:

"second_price"

n_bidders · integer · required

Number of bidders

Required range: x >= 2

Example:

5

Response

200

application/json

Successful Response

success · boolean

Example:

true

data · object

Show child attributes