Bidding

About: Bidding is a research topic. Over the lifetime, 15371 publications have been published within this topic receiving 294233 citations. The topic is also known as: competitive bidding.

Network-based system for the manufacture of parts with a virtual collaborative environment for design, developement, and fabricator selection

Abstract: The invention relates generally to a comprehensive, integrated computer-based system and method for undertaking an engineering design and development effort in a virtual collaborative environment, identifying qualified fabricators for manufacturing a part design based on fabricator capability information stored in a global registry database substantially maintained by the fabricators themselves, and conducting a virtual bidding process whereby electronic representations of three dimensional model and specification data are provided by a central server. The central server further supports the bidding process by providing quasi-real time audio, video and graphics, and the contracts negotiation and formalization steps.

Auction algorithms for network flow problems : a tutorial introduction

Abstract: This paper surveys a new and comprehensive class of algorithms for solving the classical linear network flow problem and its various special cases such as shortest path, max-flow, assignment, transportation, and transhipment problems. The prototype method, from which the other algorithms can be derived, is the auction algorithm for the assignment problem. This is an intuitive method that operates like a real auction where persons compete for objects by raising their prices through competitive bidding; the prices can be viewed as dual variables. Conceptually, auction algorithms represent a significant departure from the cost improvement idea that underlies primal simplex and dual ascent methods; at any one iteration, they may deteriorate both the primal and the dual cost. Auction algorithms perform very well for several important types of problems, both in theory and in practice, and they are also well suited for parallel computation.

Auctioning Conservation Contracts: A Theoretical Analysis and an Application

Abstract: Auction theory is used to analyze the potential benefits of auctions in allocating contracts for the provision of nonmarket goods in the countryside. A model of optimal bidding for conservation contracts is developed and applied to a hypothetical conservation program. Competitive bidding, compared to fixed-rate payments, can increase the cost effectiveness of conservation contracting significantly. The cost revelation mechanism inherent in the bidding process makes auctions a powerful means by which to reduce the problems of information asymmetry. Strategic bidding behavior, which may adversely affect the performance of sequential auctions, is difficult to address by means of auction design.

Integrity Data Attacks in Power Market Operations

Abstract: We study the economic impact of a potential class of integrity cyber attacks, named false data injection attacks, on electric power market operations. In particular, we show that with the knowledge of the transmission system topology, attackers may circumvent the bad data detection algorithms equipped in today's state estimator. This, in turn, may be leveraged by attackers for consistent financial arbitrage such as virtual bidding at selected pairs of nodes. This paper is a first attempt to formalize the economic impact of malicious data attacks on real-time market operations. We show how an attack could systematically construct a profitable attacking strategy, in the meantime being undetected by the system operator. Such a result is also valuable for the system operators to examine the potential economic loss due to such cyber attack. The potential impact of the false data injection attacks is illustrated on real-time market operations of the IEEE 14-bus system.