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On Optimal Bidding Strategies

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  • Pertti Näykki

    (Systek Oy, Helsinki, Finland)

Abstract

This paper determines the optimal bid price for a fine bidding against several other firms, when each firm estimates its own cost and the cost estimates of the prices of other firms. Game theoretic and decision theoretic approaches are compared.

Suggested Citation

  • Pertti Näykki, 1976. "On Optimal Bidding Strategies," Management Science, INFORMS, vol. 23(2), pages 198-203, October.
    • Handle: RePEc:inm:ormnsc:v:23:y:1976:i:2:p:198-203
    DOI: 10.1287/mnsc.23.2.198
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    Cited by:

    1. Lorentziadis, Panos L., 2012. "Optimal bidding in auctions of mixed populations of bidders," European Journal of Operational Research, Elsevier, vol. 217(3), pages 653-663.

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