MODELS FOR COMPETITIVE BIDDING UNDER UNCERTAINTY.

Abstract

The study analyzes competitive bidding processes as strategy decision problems under uncertainty. In bidding, a decision-maker may have uncertainty about several factors: the reliability of his information, the payoff he will accrue if his bid is successful, his competitors' decision process, and their reaction to the outcome of a bidding process. Quantitative models are developed to incorporate the interrelationship of these factors in the form of competitive games.

Document Details

Document Type
Technical Report
Publication Date
Jan 02, 1968
Accession Number
AD0663909

Entities

People

  • Armando Ortego Reichert

Organizations

  • Stanford University

Tags

Communities of Interest

  • Materials and Manufacturing Processes

DTIC Thesaurus Topics

  • Uncertainty

Fields of Study

  • Economics

Readers

  • Computational Modeling and Simulation
  • Government Contracting/Procurement.
  • Team-Based Human-Centered Cognitive Task Decision Making and Information Performance.