Geodesic
Bidding models and repeated games with incomplete information: a survey
Matematičeskaâ teoriâ igr i eë priloženiâ, Tome 9 (2017) no. 3, pp. 3-35

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With the help of a simplified model of multistage bidding with asymmetrically informed agents De Meyer and Saley [17] demonstrate an idea of endogenous origin of Brownian component in the evolution of prices on stock markets: random price fluctuations may originate from strategic randomization of “insiders”. The model is reduced to a repeated game with incomplete information. The present paper contains a survey of multiple researches inspired by this pioneering paper.
Keywords: bidding, repeated games, asymmetric information, optimal strategies, random walk, asymptotic behavior. 
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     author = {Victoria L. Kreps},
     title = {Bidding models and repeated games with incomplete information: a survey},
     journal = {Matemati\v{c}eska\^a teori\^a igr i e\"e prilo\v{z}eni\^a},
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     number = {3},
     year = {2017},
     language = {ru},
     url = {http://geodesic.mathdoc.fr/item/MGTA_2017_9_3_a0/}
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Victoria L. Kreps. Bidding models and repeated games with incomplete information: a survey. Matematičeskaâ teoriâ igr i eë priloženiâ, Tome 9 (2017) no. 3, pp. 3-35. http://geodesic.mathdoc.fr/item/MGTA_2017_9_3_a0/