Basic Bidding Formats: Characteristics and Differences

نویسندگان

چکیده

Abstract In standard auction theory, the ‘revenue equivalence theorem’ asserts that outcomes of elementary allocation methods coincide. However, bidding processes differ fundamentally with regard to decision situation participants: Is it at all imperative take into consideration number competitors (‘stochastic’ strategy) or not (‘deterministic’ course action)? Furthermore, established theory neglects operating modes procurement alternatives under uncertainty. Apart from lacking knowledge how many rivals have be beaten, tenderers regularly are ignorant buyer’s reserve price. Then is even more tentative calculate an offer based on probability theory. Consequently, suppliers’ propensity collude increases.

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ژورنال

عنوان ژورنال: Jahrbuch fu?r Wirtschaftswissenschaften

سال: 2021

ISSN: ['0948-5139', '2366-035X']

DOI: https://doi.org/10.1515/roe-2021-0014