This report discusses the issues involved in evaluating a software bidding model. We found it difficult to assess the appropriateness of any model evaluation activities without a baseline or standard against which to assess them. This paper describes our attempt to construct such a baseline. We reviewed evaluation criteria used to assess cost models and an evaluation framework that was intended...

The advent of e-commerce has brought about a radical change in the process of auctions. There is a trend towards automation in the process of auctions. Agents are widely used in this automation process. Casebased reasoning is a process which provides a user a method to automate the process of bidding. This process has an inherent learning component. CBR combined with a bidding agent for strateg...

The behavioural approach can be applied to both the design of an auction as well as to the implementation of a bidding strategy. This paper reports a case study in which we assisted a bidder in the German DCS1800 auction in the preparation for its bidding. We describe the various steps on this path: First, information that may be scattered in the company must be collected and aggregated. From t...

To get the items that a buyer wants in an Internet auction, he must search for the items through several auction sites. When the bidding starts, the buyer needs to connect to these auction sites frequently so that he can monitor the bid states and re-bid. A reserve-price auction reduces the number of connections, but this limits the user’s bidding strategy. Another problem is equity between the...

Many acquisitions by private equity (PE) firms are conducted by “clubs,” where a number of PE firms join together to submit a single bid. We present a novel analysis of the economics of club bidding by private equity firms based on the notion that club formation may create value at the target firm by allowing the different dimensions of value creation of each individual PE firm to be aggregated...

In this work we propose a modern statistical approach to the analysis and modeling of online auction data. Online auction data usually arrive in the form of a set of bids recorded over the duration of an auction. We propose the use of modern statistical methods, and especially functional data analysis and smoothing, that preserve the entire temporal dimension in place of currently used methods ...

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 ...

In a combinatorial auction environment with m goods, a bid that ascribes a real value to any bundle of goods G, b : 2G → R, can require an exponential amount of space to represent, as there are 2m possible bundles. In these notes, we describe several bidding languages that can represent some bids more compactly. While they are called bidding languages, and can be thought of as languages bidders...

Services providers, such as public healthcare systems and government agencies, are under tremendous pressure to reduce costs and improve service quality. Scheduling is an important managerial component which has considerable impact on both the costs and quality of services. Service providers need customers’ availability information to improve resource utilization. On the other hand, customers m...