Accession Number : AD0663909
Title : MODELS FOR COMPETITIVE BIDDING UNDER UNCERTAINTY.
Descriptive Note : Technical rept.,
Corporate Author : STANFORD UNIV CALIF DEPT OF STATISTICS
Personal Author(s) : Reichert,Armando Ortego
Report Date : 02 JAN 1968
Pagination or Media Count : 279
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.
Descriptors : (*DECISION THEORY, UNCERTAINTY), (*GAME THEORY, UNCERTAINTY), OPERATIONS RESEARCH, RELIABILITY, MATHEMATICAL MODELS, MANAGEMENT PLANNING AND CONTROL, PERFORMANCE(HUMAN), COSTS, BOUNDARY VALUE PROBLEMS, PROBABILITY, BEHAVIOR, MOTIVATION
Subject Categories : Economics and Cost Analysis
Distribution Statement : APPROVED FOR PUBLIC RELEASE