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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Patent•
02 Mar 2000
TL;DR: In this paper, a system and method for the correction of credit information and for submitting loan documents is presented, where a borrower and/or loan facilitator complete loan documents in an electronic fashion and submit the information over the internet to the systems server of the present invention.
Abstract: A system and method for the correction of credit information and for submitting loan documents. A borrower and/or loan facilitator completes loan documents in an electronic fashion and submits the information over the internet to the systems server of the present invention. The server then acquires credit information and parses the information into a database for subsequent manipulation by the user in any desired fashion. The system also allows for electronic versions of supporting documentation to be assembled electronically with the loan documents so that the loan pack can be a complete electronic version with supporting documents, for presentations to a plurality of lenders. The lenders then respond to the server with their offers and the server presents the offers to the borrower. Thus by bidding on the borrower's loan requirements the lenders provide the most cost effective package to the borrower.
93 citations
TL;DR: In this paper, the authors studied the bidding behavior of firms in U.S. Forest Service timber auctions in 1976-1990 and found that bidders will strategically distort their bids based on their private information, a practice known as "skewed bidding."
Abstract: This paper studies the bidding behavior of firms in U.S. Forest Service timber auctions in 1976--1990. When conducting timber auctions, the Forest Service publicly announces its estimates of the tract characteristics before the auction, and each bidder additionally has an opportunity to inspect the tract and form its own private estimates. We build a model that incorporates both differential information and the fact that bids placed in timber auctions are multidimensional. The theory predicts that bidders will strategically distort their bids based on their private information, a practice known as 'skewed bidding.' Using a dataset that includes both the public ex ante Forest Service estimates and the ex post realizations of the tract characteristics, we test our model and provide evidence that bidders do possess private information. Our results suggest that private information affects Forest Service revenue and creates allocational inefficiency. Finally, we establish that risk aversion plays an important role in bidding behavior.
93 citations
TL;DR: In this paper, an evolutionary imperfect information game approach is proposed to analyze bidding strategies in electricity markets with price-elastic demand, where adaptive and learning agents in the presented model can dynamically update their beliefs about opponents' bidding strategies during the simulation.
93 citations
TL;DR: In this paper, a combined scheduling and bidding algorithm for constructing the bidding curve of an electric utility that participated in the day-ahead energy markets was presented, and a non-decreasing bidding curve was constructed according to the proposed IGDT-based method.
Abstract: This paper presented a combined scheduling and bidding algorithm for constructing the bidding curve of an electric utility that participated in the day-ahead energy markets. Day-ahead market price uncertainty was modeled using non-probabilistic information gap decision theory (IGDT). The considered utility consisted of generation units and a retailer part; the retailer part of the utility and its demand response program (DRP) could affect the utility's profit, which should be considered in the bidding strategy problem. The bidding strategy algorithm proposed in this paper dispatched units by optimizing the demand response programs of the retailer part. In addition, non-decreasing bidding curve was constructed according to the proposed IGDT-based method. Applicability of the proposed method was demonstrated using an illustrative example with 54 thermal units. Results were verified using after-the-fact actual market data.
93 citations
Patent•
13 Nov 2006
TL;DR: In this article, a distributed computing network, shared content and services, and a focus on social network dynamics and situational context can directly create experiential and realized value for all participants around the globe.
Abstract: The invention shows explicitly how direct and honest communication utilizing a distributed computing network, shared content and services, and a focus on social network dynamics and situational context can directly create experiential and realized value for all participants around the globe. Contributors ( 20 ), having instructional content to share ( 22 ) pertaining to the functional utilization of generically named goods, essentially become knowledge workers and are rewarded ( 26 ) during specific instances when commercial entity Sponsors ( 60 ), who have been granted rights through bidding in an auction ( 64 ), utilize this content to un-intrusively market their branded goods to interested and receptive Consumers ( 10 ), by having their brand names acknowledged as a valuable component of the original content. The content can also be federated with real-time calculations of statistical price information ( 37 ) and specialized data services ( 101 ) to further increase the experiential value. The Sponsors ( 60 ) participating in these niche groups can then be granted access-rights to analyze the developing value network ontology and the ongoing flow of quality information ( 34 ) among the participants in the value network.
93 citations