Contract bridge is an example of an incomplete information game for which computers typically do not perform better than expert human bridge players. In particular, the typical bidding decisions of human bridge players are difficult to mimic with a computer program, and thus automatic bridge bidding remains to be a challenging research problem. Currently, the possibility of automatic bidding wi...

Bidding is a very important business function to find latent contractors of construction projects. Moreover, bid markup is one of the most important decisions for a bidder to gain a reasonable profit. Since the bidding system is a complex adaptive system, bidding agent need a learning process to get more valuable knowledge for a bid, especially from past public bidding information. In this pape...

Bidding strategy in online auctions, as a sort of strategic behavior, can help bidders to get what they want more efficiently and effectively. It receives much attention in many researches. However, the determinants of bidding strategy adoption still remain unclear. In this study, we investigate the role of social network in bidding strategy adoption using real transaction data from an online P...

abstract: the main goal of this paper is to modeling of producers’ strategic suggestions for each electricity manufacturer in an oligopolistic structure. according to the proposed structure of the electricity market modeling; this paper uses a dynamic model based on cournot equilibrium. due to the large volume of required information, the implementation of the model is limited to a regional ele...

When selling a business by auction, sellers typically use indicative bids – non-binding preliminary bids – to select a small number of bidders to conduct due diligence and submit binding offers. We show that if entry into the auction is costly, indicative bids can be informative: symmetric equilibrium exists in weakly-increasing strategies, with bidders “pooling” over a finite number of bids. T...

This note is a complementary material for the solution of optimal real-time bidding function in paper [1], where the estimated cost is taken as the bid price, i.e., the upper bound of the true cost. Here we discuss a more general bid optimisation framework with various utility and cost functions. 1 Preliminaries Define the bidding function as b(r) which returns the bid price given the estimated...

in this paper, the concept of conjectural variation (cv) is used to specify optimal generation decision for generation companies (gencos). the conjecture of genco is defined as its belief or expectation about the reaction of rivals to change of its output. using cv method, each genco has to learn and estimate strategic behaviors of other competitors from available historical market operation da...

According to a recently introduced theory (Spann, Zeithammer and Häubl 2010), a name-your-own-price retailer should benefit from charging prospective buyers a non-refundable bidding fee rather than providing the bidding opportunity free of charge. We use an incentive-compatible experiment to provides the first empirical test of the profitability of bidding fees. Confirming the theory’s qualitat...