Confounded by the Field: Bidding in Food Auctions When Field Prices Are Increasing

Prices and Compact Bidding Languages for Combinatorial Auctions

Combinatorial auctions are currently used for a wide variety of B2B commerce, most notably for industrial procurement of raw materials and shipping lanes, and in the government sector for the allocation of spectrum licenses, wholesale electricity generation, and the proposed control of airport congestion through the auctioning of landing-slot rights. In this paper we summarize the contributions...

Precautionary Bidding in Auctions

We analyze bidding behavior in auctions when risk-averse buyers bid for a good whose value is risky. We show that when the risk in the valuations increases, DARA bidders will reduce their bids by more than the appropriate increase in the risk premium. Ceteris paribus, buyers will be better off bidding for a more risky object in first price, second price, and English auctions with affiliated com...

Bidding in Combinatorial Auctions

An Optimization Framework for Combining the Petroleum Replenishment Problem with the Optimal Bidding in Combinatorial Auctions

We address in this paper a periodic petroleum station replenishment problem (PPSRP) that aims to plan the delivery of petroleum products to a set of geographically dispatched stations. It is assumed that each station is characterized by its weekly demand and by its frequency of service. The main objective of the delivery process is to minimize the total travelled distance by the vailable trucks...

Optimal Bidding in Sequential Auctions

A bidder's strategy in one auction may affect his competitors' behavior in subsequent auctions. When this occurs, bidding in a sequence of auctions can be modeled fruitfully as a multistage control process. This paper presents such a model. In it the control is the bidder's strategy, the state characterizes the competitors' behavior and the state transition represents the competitors' reaction ...