Communications to the Editor—Competitive Bidding with Disparate Information
- 1 March 1969
- journal article
- Published by Institute for Operations Research and the Management Sciences (INFORMS) in Management Science
- Vol. 15 (7) , 446-452
- https://doi.org/10.1287/mnsc.15.7.446
Abstract
This paper analyses competitive bidding via sealed tenders for the case in which the bidders have different sources and amounts of information available about the value of the prize. The equilibrium pure strategies are characterized and computational methods are derived. A simple example is solved completely.Keywords
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