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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.


Papers
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Journal ArticleDOI
TL;DR: This article examined the rewards and risks of the Treasury coupon auctions for bidders who face different tradeoffs between the winner's curse and quantity risk, and found that when-issued rates react as strongly to bidding aggressiveness at auctions before the auction results are announced as they do afterward.

78 citations

Journal ArticleDOI
TL;DR: In this paper, the authors study the impact of elected officials' re-election concerns on their decisions on whether to undertake new projects and show how their analysis can be applied to bidding wars among jurisdictions for firms.

77 citations

Journal ArticleDOI
01 May 1996
TL;DR: In this paper, the authors discuss the importance of simultaneous plant production and demand reduction scheduling which is required for the establishment of a full electricity market where demand-side has opportunity to compete with generators, as is the case with the England & Wales Pool's demand side bidding (DSB) scheme.
Abstract: The paper discusses the importance of simultaneous plant production and demand reduction scheduling which is required for the establishment of a full electricity market where demand-side has opportunity to compete with generators, as is the case with the England & Wales Pool's demand-side bidding (DSB) scheme. It also emphasises that demand cannot be generally treated as negative generation because of the ability of demand to redistribute itself in response to price based load management activities. In that sense, an adequate scheduling methodology of available resources (from supply and demand-sides) is needed to facilitate the new market. However, traditional formulations of the plant scheduling problem are not valid when load reduction is available, as gross demand is not known in advance. For that purpose a composite model for optimal generation and demand reduction scheduling is presented in the paper. It is shown that this model can be used for a comprehensive evaluation of possible scenarios for the implementation of demand-side bidding into the electricity market and the assessment of the influence of DSB on total production costs, system marginal price (SMP) profile, capacity element payments and benefit allocation between producers and consumers.

77 citations

Proceedings ArticleDOI
03 Jul 1998
TL;DR: This paper presents both a formal and a more pragmatical approach for the design of bidding strategies that provide buyer agents with useful heuristic guidelines to participate in auction-based tournaments, and proposes a two-fold method for decision making that does not require the evaluation of the whole set of alternative actions.
Abstract: Auction-based electronic commerce is an increasingly interesting domain for developing trading agents. In this paper we present our first contributions towards the construction of such agents by introducing both a formal and a more pragmatical approach for the design of bidding strategies that provide buyer agents with useful heuristic guidelines to participate in auction-based tournaments. On the one hand, our formal view relies on possibilistic-based decision theory as the means of handling possibilistic uncertainty on the consequences of actions due to the lack of knowledge about the other agents' behaviour. On the other hand for practical reasons we also propose a two-fold method for decision making that does not require the evaluation of the whole set of alternative actions. This approach utilizes global (market-centered) probabilistic information in a first decision step which is subsequently refined by a second decision step based on the individual (rival-centered) possibilistic information induced from the memory of cases composing the history of tournaments. In this way, the resulting bidding strategy balances the agent's short-term benefits, related to the probabilistic information, with its long-term benefits, related to the possibilistic information.

77 citations

Journal ArticleDOI
TL;DR: A new and general boosting-based algorithm for conditional density estimation problems of this kind, i.e., supervised learning problems in which the goal is to estimate the entire conditional distribution of the real-valued label.
Abstract: Auctions are becoming an increasingly popular method for transacting business, especially over the Internet. This article presents a general approach to building autonomous bidding agents to bid in multiple simultaneous auctions for interacting goods. A core component of our approach learns a model of the empirical price dynamics based on past data and uses the model to analytically calculate, to the greatest extent possible, optimal bids. We introduce a new and general boosting-based algorithm for conditional density estimation problems of this kind, i.e., supervised learning problems in which the goal is to estimate the entire conditional distribution of the real-valued label. This approach is fully implemented as ATTac-2001, a top-scoring agent in the second Trading Agent Competition (TAC-01). We present experiments demonstrating the effectiveness of our boosting-based price predictor relative to several reasonable alternatives.

77 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
20241
2023566
20221,134
2021637
2020708
2019830