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.
Papers published on a yearly basis
Papers
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TL;DR: In this article, a combination of fuzzy inference system (FIS), least squares estimation (LSE), and the combination of FIS and LSE are proposed for electricity price forecasting in locational marginal pricing spot markets.
Abstract: Accurate electricity price forecasting is critical to market participants in wholesale electricity markets. Market participants rely on price forecasts to decide their bidding strategies, allocate assets, negotiate bilateral contracts, hedge risks, and plan facility investments. Market operators can also use electricity price forecasts to predict market power indexes for the purpose of monitoring participants' behaviors. Various forecasting techniques are applied to different time horizons for electricity price forecasting in locational marginal pricing (LMP) spot markets. Available correlated data also have to be selected to improve the short-term forecasting performance. In this paper, fuzzy inference system (FIS), least-squares estimation (LSE), and the combination of FIS and LSE are proposed. Based on extensive testing with various techniques, LSE provides the most accurate results, and FIS, which is also highly accurate, provides transparency and interpretability
198 citations
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TL;DR: The authors assess empirically the effects of the winner's curse which, in common-value auctions, counsels more conservative bidding as the number of competitors increases and find that median procurement costs rise as competition intensifies.
Abstract: We assess empirically the effects of the winner's curse which, in common-value auctions, counsels more conservative bidding as the number of competitors increases. First, we construct an econometric model of an auction in which bidders' preferences have both common- and private-value components, and propose a new monotone quantile approach which facilitates estimation of this model. Second, we estimate the model using bids from procurement auctions held by the State of New Jersey. For a large subset of these auctions, we find that median procurement costs rise as competition intensifies. In this setting, then, asymmetric information overturns the common economic wisdom that more competition is always desirable.
197 citations
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TL;DR: A stochastic mixed-integer linear programming model that involves both hydropower production and physical trading aspects is developed and the effects of including uncertainty explicitly into optimization by comparing the Stochastic approach to a deterministic approach are explored.
197 citations
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TL;DR: In this article, the authors review recent empirical research documenting offer premiums and bidding strategies in corporate takeovers, ranging from optimal auction bidding to the choice of deal payment form and premium effects of poison pills.
197 citations
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03 Dec 2003TL;DR: Computational results in teambots, a multi-robot simulator, indicate that combinatorial auctions generally lead to significantly superior team performance than single-item auctions, and generate very good results compared to an optimal centralized mechanism.
Abstract: We study how to coordinate a team of mobile robots to visit a number of given targets in a partially unknown terrain. Robotics researchers have studied single-item auctions to perform this exploration task but these do not make synergies between the targets into account. We therefore design combinatorial auctions, propose different combinatorial bidding strategies and compare their performance with each other, as well as to single item auctions and an optimal centralized mechanism. Our computational results in teambots, a multi-robot simulator, indicate that combinatorial auctions generally lead to significantly superior team performance than single-item auctions, and generate very good results compared to an optimal centralized mechanism.
196 citations