IDEAS home Printed from https://ideas.repec.org/p/cwl/cwldpp/496r.html
   My bibliography  Save this paper

Auctions and Bidding Models: A Survey

Author

Listed:
  • Richard Engelbrecht-Wiggans

Abstract

Auctions and bidding models are attracting an ever increasing amount of attention. The Stark and Rothkopf (1977) bibliography includes approximately 500 papers on the subject; additional work has been reported since the bibliography was compiled. This paper presents a general framework for classifying and describing various auctions and bidding models, and surveys the major results of the literature in terms of this framework.

Suggested Citation

  • Richard Engelbrecht-Wiggans, 1979. "Auctions and Bidding Models: A Survey," Cowles Foundation Discussion Papers 496R, Cowles Foundation for Research in Economics, Yale University.
    • Handle: RePEc:cwl:cwldpp:496r
    Note: CFP 514.
    as

    Download full text from publisher

    File URL: https://cowles.yale.edu/sites/default/files/files/pub/d04/d0496-r.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jack Hirshleifer & John G. Riley, 1978. "Elements of the Theory of Auctions and Contests," UCLA Economics Working Papers 118, UCLA Department of Economics.
    2. Ramsey, James B., 1978. "Federal Off-Shore Lease Sales and a Theoretical Analysis of Alternative Bidding Procedures," Working Papers 78-08, C.V. Starr Center for Applied Economics, New York University.
    3. Paul Milgrom, 1978. "A Bidding Model of Price Formation Under Uncertainty," Discussion Papers 364, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    4. Emil Attanasi, 1974. "Some Interpretations of Sequential Bid Pricing Strategies," Management Science, INFORMS, vol. 20(11), pages 1424-1427, July.
    5. Baron, David P, 1974. "Incentive Contracts and Competitive Bidding: Reply," American Economic Review, American Economic Association, vol. 64(6), pages 1072-1073, December.
    6. Michael H. Rothkopf, 1969. "A Model of Rational Competitive Bidding," Management Science, INFORMS, vol. 15(7), pages 362-373, March.
    7. Richard Engelbrecht, 1977. "Note--A Note on Multivariate Risk and Separable Utility Functions," Management Science, INFORMS, vol. 23(10), pages 1143-1144, June.
    8. Irving H. Lavalle, 1967. "A Bayesian Approach to an Individual Player's Choice of Bid in Competitive Sealed Auctions," Management Science, INFORMS, vol. 13(7), pages 584-597, March.
    9. F. M. Scherer, 1964. "The Theory of Contractual Incentives for Cost Reduction," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 78(2), pages 257-280.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. David A. Malueg, 1980. "An Introduction to Information Structures," Discussion Papers 416, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    2. Dirk Alboth & Anat Lerner & Jonathan Shalev, 2001. "Profit Maximizing in Auctions of Public Goods," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 3(4), pages 501-525, October.
    3. Jacob K. Goeree & Theo Offerman, 2003. "Competitive Bidding in Auctions with Private and Common Values," Economic Journal, Royal Economic Society, vol. 113(489), pages 598-613, July.
    4. Roman Sheremeta, 2018. "Experimental Research on Contests," Working Papers 18-07, Chapman University, Economic Science Institute.
    5. Ronald M. Harstad, 2007. "Does a Seller Really Want Another Bidder?," Working Papers 0711, Department of Economics, University of Missouri.
    6. Ward, S. C. & Chapman, C. B., 1995. "Evaluating fixed price incentive contracts," Omega, Elsevier, vol. 23(1), pages 49-62, February.
    7. Michel Denuit & Louis Eeckhoudt & Béatrice Rey, 2010. "Some consequences of correlation aversion in decision science," Annals of Operations Research, Springer, vol. 176(1), pages 259-269, April.
    8. Swider, Derk J. & Weber, Christoph, 2007. "Bidding under price uncertainty in multi-unit pay-as-bid procurement auctions for power systems reserve," European Journal of Operational Research, Elsevier, vol. 181(3), pages 1297-1308, September.
    9. Rachel R. Chen & Robin O. Roundy & Rachel Q. Zhang & Ganesh Janakiraman, 2005. "Efficient Auction Mechanisms for Supply Chain Procurement," Management Science, INFORMS, vol. 51(3), pages 467-482, March.
    10. Cramton, Peter C, 1995. "Money Out of Thin Air: The Nationwide Narrowband PCS Auction," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 4(2), pages 267-343, Summer.
    11. Fanzeres, Bruno & Ahmed, Shabbir & Street, Alexandre, 2019. "Robust strategic bidding in auction-based markets," European Journal of Operational Research, Elsevier, vol. 272(3), pages 1158-1172.
    12. Jean-Pierre Florens & Nathalie Naffrichoux, 1992. "Estimation du taux de partage des risques dans les contrats État-industries spatiales," Revue Économique, Programme National Persée, vol. 43(5), pages 851-870.
    13. Ronald M. Harstad & Aleksandar Saša Pekeč, 2008. "Relevance to Practice and Auction Theory: A Memorial Essay for Michael Rothkopf," Interfaces, INFORMS, vol. 38(5), pages 367-380, October.
    14. Hellerstein, Daniel & Higgins, Nathaniel & Roberts, Michael, 2015. "Options for Improving Conservation Programs: Insights From Auction Theory and Economic Experiments," Amber Waves:The Economics of Food, Farming, Natural Resources, and Rural America, United States Department of Agriculture, Economic Research Service, issue 01, pages 1-1, February.
    15. Emmanuel Dechenaux & Dan Kovenock & Roman Sheremeta, 2015. "A survey of experimental research on contests, all-pay auctions and tournaments," Experimental Economics, Springer;Economic Science Association, vol. 18(4), pages 609-669, December.
    16. Roman M. Sheremeta, 2016. "The pros and cons of workplace tournaments," IZA World of Labor, Institute of Labor Economics (IZA), pages 302-302, October.
    17. Vasilis Syrgkanis & David Kempe & Eva Tardos, 2019. "Information Asymmetries in Common-Value Auctions with Discrete Signals," Management Science, INFORMS, vol. 44(4), pages 1450-1476, November.
    18. Dan Kovenock & Brian Roberson, 2009. "Is the 50-State Strategy Optimal?," Journal of Theoretical Politics, , vol. 21(2), pages 213-236, April.
    19. Arye Hillman & Dov Samet, 1987. "Dissipation of contestable rents by small numbers of contenders," Public Choice, Springer, vol. 54(1), pages 63-82, January.
    20. Peter Cramton & Yoav Shoham & Richard Steinberg, 2007. "An Overview of Combinatorial Auctions," Papers of Peter Cramton 07oca, University of Maryland, Department of Economics - Peter Cramton, revised 2007.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cwl:cwldpp:496r. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Brittany Ladd (email available below). General contact details of provider: https://edirc.repec.org/data/cowleus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.