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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TL;DR: This article found that investment-banker advisory fees in tender offers average 1.29% of the value of a completed transaction, far below the levels often alluded to in the business press.
173 citations
Proceedings Article•
06 Jan 2007TL;DR: This paper proposes a negotiation protocol where agents employ adjusted sampling to generate proposals, and a bidding-based mechanism is used to find social-welfare maximizing deals that substantially outperforms existing methods in large non-linear utility spaces like those found in real world contexts.
Abstract: Multi-issue negotiation protocols have been studied widely and represent a promising field since most negotiation problems in the real world involve interdependent multiple issues The vast majority of this work has assumed that negotiation issues are independent, so agents can aggregate the utilities of the issue values by simple summation, producing linear utility functions In the real world, however, such aggregations are often unrealistic We cannot, for example, just add up the value of car's carburetor and the value of car's engine when engineers negotiate over the design a car These value of these choices are interdependent, resulting in nonlinear utility functions In this paper, we address this important gap in current negotiation techniques We propose a negotiation protocol where agents employ adjusted sampling to generate proposals, and a bidding-based mechanism is used to find social-welfare maximizing deals Our experimental results show that our method substantially outperforms existing methods in large non-linear utility spaces like those found in real world contexts
173 citations
TL;DR: In this article, the authors considered three mechanisms that extend the standard fixed quantity auction: (i) sole sourcing with output chosen in advance by a buyer with downward-sloping demand, (ii) single sourcing with an output schedule based on revelation of cost parameters, and (iii) multiple Sourcing with output allocation across suppliers.
171 citations
TL;DR: This paper surveys applications of decision analysis published from 1970 through 1989 and notes articles that present significant detail about methodological and implementation issues, including problem structure/formulation, decision trees, probability and utility assessment, communication/facilitation, and group decision making.
Abstract: In order to provide a guide to source material for practitioners interested in applying decision analysis methods, this paper surveys applications of decision analysis published from 1970 through 1989. In addition, it presents references for useful decision analysis methods that are often omitted from introductory textbooks. As used in this article, the term decision analysis refers to a set of quantitative methods for analyzing decisions which use expected utility as the criterion for identifying the preferred decision alternative. To be included in this survey, an application had to explicitly analyze alternatives for a decision problem using judgmental probabilities and/or subjectively assessed utility functions. The paper classifies the applications into five areas: energy, manufacturing and services, medical, public policy, and general. It further subclassifies energy applications into bidding, product and project selection, regulation, site selection, and technology choice. Those in manufacturing and services are subclassified into budget allocation, product planning, strategy, and miscellaneous. Applications in public policy are subclassified into standard-setting and miscellaneous. The paper notes articles that present significant detail about methodological and implementation issues, including problem structure/formulation, decision trees, probability and utility assessment, communication/facilitation, and group decision making.
171 citations
TL;DR: In this article, it was shown that a seller with a random reservation value can increase her ex ante expected profits by following a policy of conducting an auction in which her reserve price is kept secret compared to an auction where the reserve price was announced.
170 citations