This paper examines the bidding for school milk contracts in Florida and Texas during the 1980s. In both states firms were convicted of bid-rigging. The data and legal evidence suggest that the cartels in the two states allocate contracts in different ways: One cartel divides the market among members, while the other cartel also uses side payments to compensate members for refraining from biddi...

In a multiple-object auction, every bidder tries to win as many objects as possible with a bidding algorithm. This paper studies position-randomized auctions, which form a special class of multiple-object auctions where a bidding algorithm consists of an initial bid sequence and an algorithm for randomly permuting the sequence. We are especially concerned with situations where some bidders know...

This paper designs a novel fuzzy competition and attitude based bidding strategy (FCA-Bid), in which the final best bid is calculated on the basis of the attitude of the bidders and the competition for the goods in the market. The estimation of attitude is based on the bidding item’s attribute assessment, which adapts the fuzzy sets technique to handle uncertainty of the bidding process as well...

This paper presents a methodology based on Fuzzy Adaptive Particle Swarm Optimization (FAPSO) for the preparation of optimal bidding strategies corresponding unit commitment by Generation companies (Gencos) in order to gain maximum profits in a day-ahead electricity market. In a competitive electricity market with limited number of suppliers, Gencos are facing an oligopoly market rather than a ...

In this paper we consider the problem of a firm the that builds inventory of identical items that it acquires by participating in auctions in order to satisfy its own market demand. The objective of the firm is to have a procurement strategy that maximizes the expected present value of the profit, both for finite and infinite planning horizons. We present an MDP formulation of the problem. Unde...

The analysis of second price auctions with externalities is utterly modi ed if the seller is unable to commit not to participate in the mechanism. For the General Symmetric Model (Milgrom and Weber [20]) and standard auction formats, we charaterize the full set of symmetric pure strategy equilibria with shill bids from the seller (using possibly mixed strategy) and compare those equilibria to t...

A crucial challenge in future smart energy grids is the largescale coordination of distributed energy demand and generation. The well-known PowerMatcher is a promising approach that integrates demand and supply flexibility in the operation of the electricity system through dynamic pricing and a hierarchical bidding coordination scheme. However, as the PowerMatcher focuses on short-term coordina...

We develop a novel auction-based algorithm to allow users to fairly compete for a wireless fading channel. We use the second-price auction mechanism whereby user bids for the channel, during each time-slot, based on the fade state of the channel, and the user that makes the higher bid wins use of the channel by paying the second highest bid. Under the assumption that each user has a limited bud...

Search-based advertising allows the advertisers to run special campaigns targeted to different groups of potential consumers at low costs. Google, Yahoo and Microsoft advertising programs allow the advertisers to bid for an ad position on the result page of a user when the user searches for a keyword that the advertiser relates to its products or services. The expected revenue generated by the ...