Topic
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.
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Book•
01 Apr 2003
TL;DR: In this paper, the authors present a detailed explanation of effective royalty rate, savings index, and entitlement index for a petroleum fiscal system, and provide an analysis of example fiscal systems.
Abstract: Exploration economic modeling-""How to"" and things to look for State-of-the-art in petroleum fiscal system analysis Government take-strengths and weaknesses Detailed explanation of effective royalty rate, savings index, and entitlement index Alignment of interests between governments and oil companies Booking barrels Insights into the competitive bidding dilemma Value of reserves in the ground Gas development options Summary and analysis of example fiscal systems Detailed glossary Index.
95 citations
TL;DR: In this paper, the authors present a game-theoretically justifiable decision-making procedure for the sellers which may be used to predict and analyze the bids made for energy sale in the market.
95 citations
TL;DR: This paper proposes a low-complexity auction framework to distribute spectrum in real-time among a large number of wireless users with dynamic traffic with a compact and highly expressive bidding format, and develops analytical bounds on algorithm performance and complexity to verify the efficiency.
95 citations
TL;DR: This paper addresses various computational problems that are relevant from the bidder's perspective and introduces two bid evaluation metrics that can be used by bidders to determine whether any given bid can be a part of the winning allocation and explores their theoretical properties.
Abstract: Many auctions involve selling several distinct items simultaneously, where bidders can bid on the whole or any part of the lot. Such auctions are referred to as combinatorial auctions. Examples of such auctions include truck delivery routes, industrial procurement, and FCC spectrum. Determining winners in such auctions is an NP-hard problem, and significant research is being conducted in this area. However, multiple-round (iterative) combinatorial auctions present significant challenges in bid formulations as well. Because the combinatorial dynamics in iterative auctions can make a given bid part of a winning and nonwinning set of bids without any changes in the bid, bidders are usually not able to evaluate whether they should revise their bid at a given point in time or not. Therefore, in this paper we address various computational problems that are relevant from the bidder's perspective. In particular, we introduce two bid evaluation metrics that can be used by bidders to determine whether any given bid can be a part of the winning allocation and explore their theoretical properties. Based on these metrics, we also develop efficient data structures and algorithms that provide comprehensive information about the current state of the auction atany time, which can help bidders in evaluating their bids and bidding strategies. Our approach uses exponential memory storage but provides fast incremental update for new bids, thereby facilitating bidder support for real-time iterative combinatorial auctions.
94 citations
Journal Article•
TL;DR: In this article, two fundamentally different subcontracting systems arise as distinct solutions to the quality control problem facing an input buyer: the American system involves competitive bidding on each contract, large orders, and inspections; the Japanese system involves repeat purchases from a supplier who earns a premium, small orders and no inspections.
Abstract: Two fundamentally different subcontracting systems arise as distinct solutions to the quality control problem facing an input buyer. The 'American' system involves competitive bidding on each contract, large orders, and inspections. The 'Japanese' system involves repeat purchases from a supplier who earns a premium, small orders, and no inspections. Both systems may coexist as local solutions, but the global optimum is determined by the ratio of set-up to inspection costs. This suggests that the adoption of flexible manufacturing equipment and rising product complexity may be responsible for the shift from the American to the Japanese system observed in many industries. Copyright 1997 by American Economic Association.
94 citations