Download or read book The Structure of Information in Competitive Bidding written by Paul Robert Milgrom and published by . This book was released on 1978 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Structure of Information in Competitive Bidding written by Paul R. Milgrom and published by . This book was released on 1981 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Market Structure and the Flow of Information in Repeated Auctions written by Federal Trade Federal Trade Commission and published by CreateSpace. This book was released on 2015-06-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is an ongoing public policy debate regarding vertical integration and its concomitant information flows. Of particular concern is that the information derived by an auctioneer (such as a distributor) will be shared with its integrated bidder (such as a manufacturer), leading to a reduction in competition between the bidders. Similar competitive concerns arise regarding bid revelation policies, such as those used in public sector procurement. Modeling such situations as the repeated auctions introduced in Thomas [1996a], this paper examines the transmission of private information via the auction outcomes, and shows how that transmission is affected by the changes in market structure described above. These concerns are not present in the existing auction literature, because such information transmission is irrelevant both in series of independent auctions and in sequential auctions in which participants desire only a single item. However, when bidders desire multiple items, and when the values of those items to a bidder are correlated, the incentive to learn about opponents' values and to obscure one's own drive equilibria to depart systematically from those in standard models. I examine structural information transmission, created through various policies for conducting auctions, and its effect on strategic information transmission, which arises as an optimal response to given structural policies. I initially model information acquisition in situations where bidders do not see rival bids and learn only the identify of the winner. I then extend this model to show how the desire to conceal information about oneself affects behavior by examining repeated auctions with publicly announced bids. The auctioneers prefer a policy of revealing all bids to revealing only the winner's bid and to revealing no bid information. Finally, I show that a vertical merger between a buyer and a seller can be procompetitive due to both structural and strategic information transmission.

Download or read book Competitive Bidding in the 21st Century written by Marshall Miles and published by Master Point Press. This book was released on 2000 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, Miles addresses the complex arena of competitive bidding methods for the more advanced player. He discusses current thinking, and recommends methods which will continue to be playable as bridge enters its second century. This book will appeal to fairly serious players only. There are two earlier books on this topic by the same author, 5 and 10 years old respectively, and therefore superseded by this new work.

Download or read book Competitive bidding with disparate information written by Robert Wilson and published by . This book was released on 1966 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A General Closed Competitive Bidding Model written by Larry I. Dawson and published by . This book was released on 1971 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Closed competitive bidding is generally accepted as an efficient means of allocating scarce resourses within the economy and appears to be gaining widespread use, partly due to governments' increased activity in the business sector. However, bidding poses some formidable problems to competing companies' managements due to the uncertainties and complexities that may exist when following this method. This paper structures the closed competitive bidding environment by means of a model. Then, given a set of bidding information and with the aid of this model, a company's management may be able to more profitably allocate the resources that they have at their disposal.

Download or read book Putting Auction Theory to Work written by Paul Milgrom and published by Cambridge University Press. This book was released on 2004-01-12 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive introduction to modern auction theory and its important new applications. It is written by a leading economic theorist whose suggestions guided the creation of the new spectrum auction designs. Aimed at graduate students and professionals in economics, the book gives the most up-to-date treatments of both traditional theories of 'optimal auctions' and newer theories of multi-unit auctions and package auctions, and shows by example how these theories are used. The analysis explores the limitations of prominent older designs, such as the Vickrey auction design, and evaluates the practical responses to those limitations. It explores the tension between the traditional theory of auctions with a fixed set of bidders, in which the seller seeks to squeeze as much revenue as possible from the fixed set, and the theory of auctions with endogenous entry, in which bidder profits must be respected to encourage participation.

Download or read book A Note on Competitive Bidding with Asymmetric Information written by Rafael Rob and published by . This book was released on 1984 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Competitive bidding with disparate information written by Robert B. Wilson and published by . This book was released on 1968 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Convergence Theorem for Competitive Bidding with Differential Information written by Paul Robert Milgrom and published by . This book was released on 1977 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Competitive bidding with asymmetrical information written by Robert Wilson and published by . This book was released on 1966 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Common Value Auctions and the Winner s Curse written by John H. Kagel and published by Princeton University Press. This book was released on 2021-04-13 with total page 419 pages. Available in PDF, EPUB and Kindle. Book excerpt: An invaluable account of how auctions work—and how to make them work Few forms of market exchange intrigue economists as do auctions, whose theoretical and practical implications are enormous. John Kagel and Dan Levin, complementing their own distinguished research with papers written with other specialists, provide a new focus on common value auctions and the "winner's curse." In such auctions the value of each item is about the same to all bidders, but different bidders have different information about the underlying value. Virtually all auctions have a common value element; among the burgeoning modern-day examples are those organized by Internet companies such as eBay. Winners end up cursing when they realize that they won because their estimates were overly optimistic, which led them to bid too much and lose money as a result. The authors first unveil a fresh survey of experimental data on the winner's curse. Melding theory with the econometric analysis of field data, they assess the design of government auctions, such as the spectrum rights (air wave) auctions that continue to be conducted around the world. The remaining chapters gauge the impact on sellers' revenue of the type of auction used and of inside information, show how bidders learn to avoid the winner's curse, and present comparisons of sophisticated bidders with college sophomores, the usual guinea pigs used in laboratory experiments. Appendixes refine theoretical arguments and, in some cases, present entirely new data. This book is an invaluable, impeccably up-to-date resource on how auctions work--and how to make them work.

Download or read book Competitive Bidding Under Asymmetric Information written by Walter J. Mead and published by . This book was released on 1982 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Competitive Bidding and Proprietary Information written by Richard Engelbrecht Wiggans and published by . This book was released on 1981 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Managing Bids Tenders and Proposals written by James N. Smith and published by Universal-Publishers. This book was released on 2017-08 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managing Bids, Tenders and Proposals shows suppliers and vendors how they can gain competitive advantage by being more effective and productive when pursuing sales opportunities and competing to win new contracts. Suppliers and vendors can also learn how to identify and reduce delivery risk and commercial risk. Responding to requests-for-tenders (RFTs) and requests-for-proposals (RFPs) is frequently a challenging time for the supplier and vendor bid teams. Within tight timeframes, they must finalise their win strategy, determine their delivery plans and create compelling documentation that responds to the customer's questions and requirements. This essential reference work explores what needs to happen when responding to RFTs and RFPs and explains the essential knowledge needed by the bid teams. In clearly written and well-structured chapters, Managing Bids, Tenders and Proposals addresses everything a bid manager or bid team member needs to know. Understanding profit, pricing, value and risk are essential for competitive pricing and profitable business. How customers manage their procurement programmes drives the lifecycle of a sales opportunity. Sales governance based on objective criteria identifies the right opportunities to pursue. Knowing what to look for in RFPs and RFTs helps to structure powerful bid responses. Understanding contracts, finance and business cases protects the commercial position of the supplier or vendor. Mastering these topics makes bid management a complete discipline that places a premium on leadership and managerial skills. Not only are the fundamentals of bid management captured simply and concisely, Managing Bids, Tenders and Proposals also explains how to plan and manage a bid response. Additional chapters define what makes a bid response compelling, as well as how to write and review bid documents to best position your bid, tender or proposal. Managing Bids, Tenders and Proposals introduces the Bid.Win.Deliver Framework, a new and unique approach for responding to sales opportunities. In 16 procedural steps, the Bid.Win.Deliver Framework guides bid teams through the development process from identifying a sales opportunity to developing a compelling and competitive bid response. Any supplier or vendor in any industry that submits bids, proposals and tenders will benefit from adopting the Bid.Win.Deliver Framework. The framework provides a clear roadmap for implementing best-practice bid management at suppliers and vendors in any industry or market. The Bid.Win.Deliver Framework equips any professional with the skills to lead and manage a bid response. For experienced bid managers, the Bid.Win.Deliver Framework provides a common reference for discussion, reflection and professional development.

Download or read book Construction Bidding written by William R. Park and published by Wiley-Interscience. This book was released on 1992-10-23 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Construction contractors and engineers involved in competitive bidding situations confront a seemingly irreconcilable challenge. On the one hand, you can only win the job by bidding less than your cheapest competitor. Yet you still need to bid high enough to ensure the greatest profit margin possible under existing conditions. In this important addition to the Wiley Series of Practical Construction Guides, strategic bidding experts William Park and Wayne Chapin deliver a field-tested methodology for achieving consistent bidding success. In clear, easy-to-follow language, they update their explanations of proven techniques for using strategic bidding to dramatically improve any firm's profitability. At the same time, they show how to use DATABID, a powerful new construction estimating program, to apply these methods to your next bid. You'll also get a free ready-to-use disk that applies all of the techniques described in the book. This extensively revised and updated edition of Construction Bidding for Profit supplies step-by-step guidance for creating and implementing a workable, realistic competitive bidding strategy. From estimating costs and performing break-even analyses, to factoring in risk and uncertainty and setting realistic bidding goals, you'll discover how to achieve your specific profit objectives through an optimum combination of price, cost, and volume. And you'll learn to easily gather the full range of available competitive data and organize it in a manner that reveals profitable strategic insights into your competitor's bidding behavior. The Second Edition features a simple, nonthreatening approach to statistics and probability that boosts the chances of a successfulbidding outcome against any number of competitors. It is also brimming with updated illustrations, charts, checklists, and sample output for the DATABID estimating program. Throughout, examples drawn from the actual experiences of successful contractors in many different fields of construction illustrate the competitive bidding principles and techniques in action. Whether your specialty is heavy construction projects or subcontract work - whether your annual volume is $200,000 or $200 million - you'll confidently turn to Construction Bidding for the practical strategy and techniques you need to double your bidding efficiency and obtain the best margin for every job you win.

Download or read book Auction Theory written by Vijay Krishna and published by Elsevier. This book was released on 2002-04-25 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: Auction Theory is the standard reference on auctions and the first source of authoritative information about multi-unit auctions. The book develops the main concepts of auction theory from scratch in a self-contained and theoretically rigorous manner. It explores auctions and competitive bidding as games of incomplete information through detailed examinations of themes central to auction theory. This book complements its superb presentation of auction theory with clear and concise proofs of all results on bidding strategies, efficiency, and revenue maximization. It provides discussions on auction-related subjects, including private value auctions; the Revenue Equivalence Principle; auctions with interdependent values; the Revenue Ranking (Linkage) Principle; mechanism design with interdependent values; bidding rings; multiple object auctions; equilibrium and efficiency with private values; and nonidentical objects. This book is essential reading for graduate students taking courses on auction theory, the economics of information, or the economics of incentives, as well as for any serious student of auctions. It will also appeal to professional economists or business analysts working in contract theory, experimental economics, industrial organization, and microeconomic theory. *The standard reference on auctions and the first source of authoritative information about multi-unit auctions*Explores auctions and competitive bidding as games of incomplete information*Uses accessible, detailed examinations of themes central to auction theory