Models for Competitive Bidding under Uncertainty

摘要

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.