A Study of First-price Sealed-bid Procurement Auctions for Divisible Items∗

Abstract

In this paper, we study first-price sealed-bid procurement auctions for divisible items. The auctions are divided into two cases: the auctioneer either does or does not compensate for an oversupply of the quantity purchased. The bidding behaviors of bidders are modeled, and then the optimal bidding strategy for bidders is obtained. It is shown that the… (More)

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Cite this paper

@inproceedings{Wei2009ASO, title={A Study of First-price Sealed-bid Procurement Auctions for Divisible Items∗}, author={Yihua Wei and Qiying Hu and Wuyi Yue}, year={2009} }