Reverse Auction Bidding Bid Arrivals Analysis
DOWNLOAD
Download Reverse Auction Bidding Bid Arrivals Analysis PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Reverse Auction Bidding Bid Arrivals Analysis book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Reverse Auction Bidding Bid Arrivals Analysis
DOWNLOAD
Author : Shu Yuan
language : en
Publisher:
Release Date : 2013
Reverse Auction Bidding Bid Arrivals Analysis written by Shu Yuan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Reverse Auction Bidding (RAB) is a recently developed procurement method that can be used by the construction industry. The technique is different from a traditional auction system, since RAB system uses a bidding activity method that is completed anonymously by pre-qualified bidders during a fixed auction time. The basic premise for the auction is that the current best auction price is available for viewing during the whole auction process by both bidders and owner. The apparent incentive is for noncompetitive bidders to lower the price. There are however controlling factor beyond the reach of owners, such as market demand, lending restrictions, stakeholder expectations and risk tolerance levels, that impact on price levels. However, owners continue to attempt to drive down prices using this technique. A study into the mechanics of RAB was launched at Texas A&M University in 2004. This ongoing study of RAB continues to this time with eighteen case studies. This nineteenth study looks at the time series bid data from some of the prior work. Nine case studies were selected from the previous case studies. These nine studies provided untainted data with 6674 RAB bid arrivals by prior investigator actions. This study concerns the statistical process of bid arrivals with time. The hypothesis to be tested is that the RAB bid arrivals timing can be modeled with a statistical process. The analysis reviewed the fit for several types of distribution, including Gaussian and Poissionian. The best fit was modeled by non-homogeneous Poisson process (NHPP). The first conclusion from the analysis is that RAB bid arrivals follows a Poisson process, termed non-homogeneous Poisson process (NHPP). The second conclusion is that the controlling Poissionian process has a square root factor. The NHPP model for RAB provides a tool for future studies of RAB in real time. Future work is suggested on the inter-time periods for the bidding. The electronic version of this dissertation is accessible from http://hdl.handle.net/1969.1/151385
Reverse Auction Bidding Bid Time Intervals Analysis
DOWNLOAD
Author : Mengyan Xiao
language : en
Publisher:
Release Date : 2015
Reverse Auction Bidding Bid Time Intervals Analysis written by Mengyan Xiao and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
Reverse Auction Bidding is for the purchase of goods or services that has developed in line with the development of the World Wide Web. A number of agencies utilize Reverse Auction Bidding as their procurement tool. In an RAB, human bidders bid against each other by reduce their bid price. It is believed the computer bidder machine can be introduced into reverse auction bidding to compete against human beings. However, the reaction time of a computer machine is much faster than a human. This research is looking to develop the algorithm for the computer machine to follow, so that when the computer is bidding against a human being, people cannot determine that it is a machine bidding in the game. This research is the 26th case study of Reverse Auction Bidding in Texas A&M University, Construction Science department. The research has analyzed the existing data which collected from previous RAB experiments. The results show two rules can be setup for computer bidder machines. Rule 1, when the computer is bidding during the segment 1 of each section, it shall randomly select from 2 seconds to 23 seconds as its time-intervals. Rule 2, when the computer is bidding during the segment 2 of each section, it shall randomly select from 2 seconds to 9 seconds as its time-intervals. The electronic version of this dissertation is accessible from http://hdl.handle.net/1969.1/155295
Statistical Analysis Of The Fourth Case Study In Reverse Auction Research
DOWNLOAD
Author : Aneesh Madhao Bhalerao
language : en
Publisher:
Release Date : 2011
Statistical Analysis Of The Fourth Case Study In Reverse Auction Research written by Aneesh Madhao Bhalerao and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
Participating in an auction and winning items by placing bids has been in practice since at least 500 B.C. Auctions have evolved since then and anyone can now participate in one online and buy items ranging from clothes, electronics, automobiles and homes using online auction websites, such as eBay. A Reverse Auction varies from the traditional style of Auction where items or services are won by placing successive higher bids until the auction ends. The study of Reverse Auction was first introduced to Texas A & M University in 2004 and continues today, using a SQL based web system. This current research provides a detailed statistical analysis of the fourth case study in this long running work. This fourth case study involved the participation of five bidders who had no prior experience in Reverse Auctions. A Microsoft Access database system and ASP web based user interface was developed and used to conduct these initial studies. However, due to the limited capability of the Access system to handle more than a limited number of connections or bidders, a Microsoft SQL database and web system was developed in 2006 and has been used in all subsequent studies. Case studies have involved up to ten participants. The results from the fourth case study show that a Reverse Auction can result in an increase in the average cost of the job to the owner. Also, there is evidence of game play amongst the bidders and against the purchaser that causes their profits to rise as they gain proficiency in the game. This behavior has been termed as 'tacit collision', but it is considered a byproduct of the system and not illegal behavior. This study analyzes the fourth study data to investigate if the behavior termed "tacit collusion" is evident in the bidding data. This analysis is completed by performing a detailed statistical analysis of the bidding data. Analysis of the profit percentages illustrates the different stages of the game play amongst the bidders. This game play behavior is illustrated by plotting average number of bids to the profit made by each bidder. The data clearly suggests that the players became efficient in their bidding strategy, although some bidders are more efficient than others. This observation negates the common conception that Reverse Auctions will result in lowering average costs for the owners. The individual data of bidders for bids and profit reveal why some players were able to obtain higher than average results and why the others were not. This study can be taken further by analyzing the patterns of the successful and unsuccessful players to determine what causes them to gain or lose profits.
The Role Of Reverse Auctions In Strategic Sourcing
DOWNLOAD
Author :
language : en
Publisher: W.P. Carey School of Business
Release Date : 2003-01-01
The Role Of Reverse Auctions In Strategic Sourcing written by and has been published by W.P. Carey School of Business this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-01-01 with Electronic commerce categories.
Owner S Interference In Reverse Auction Bidding To Skew A Free Market
DOWNLOAD
Author : Sushil Vinay Chaudhari
language : en
Publisher:
Release Date : 2010
Owner S Interference In Reverse Auction Bidding To Skew A Free Market written by Sushil Vinay Chaudhari and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Reverse auction bidding is an online auction system. A purchaser's primary objective in using a reverse auction is to obtain the lowest possible bid for goods and services on a construction project. With this type of bidding, it is normal that the purchaser will only consider price, instead of a bidders' work history and experience. As a reverse auction is an online service, the common misperception is that a purchaser can reach a broader market to obtain the lowest possible price. It is a controversial bidding system. No previous research has been undertaken by the Texas A & M University Reverse Auction Bidding study group into potential owner interference with the bidding system for a reverse auction. Six bidders were asked to participate in the Reverse Auction Bidding process for a series of construction projects in Houston. Each participant was also asked to complete a Keirsey Temperament Sorter Test type I and II to determine each participant's personality. After the tests, the six participants competed in an online reverse auction bidding game. The primary objective of this research is to analyze the impact of an owner's interference in a reverse auction bidding scenario. In this test, one of the six bidders acted as the owner's surrogate to interfere with an ethical process and reduce the owner's costs. The other five bidders were unaware of the surrogate's role in the bidding. The primary directive given to the surrogate bidder was to drive down the cost of the projects. The results for the research study show that the owner's surrogate can affect the bidding process. Interference results in reduced returns for the bidders when compared to an uncompromised bidding scenario. It is clear that the method used is unethical.
Reverse Auction Bidding A Study Of Industry Professionals
DOWNLOAD
Author : Robert Bradley Piper
language : en
Publisher:
Release Date : 2014
Reverse Auction Bidding A Study Of Industry Professionals written by Robert Bradley Piper and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
This research project into Reverse Auction Bidding is the first of the twenty studies completed to this time to use professional contractors. Previous case studies used students at Texas A&M University as the subjects of the research. Reverse Auction Bidding is a new form of bidding using the internet as the bidding mechanism. A purchaser requests bids through a web site, typically a commercial site. Invited bidders can respond under a standard set of timed conditions to the bidding documents on the web site. This TAMU based research program has a SQL Server based web site, which uses house slabs in Houston as a bidding game. This study of The Reverse Auction Bidding method used four individuals from a supply company as the subjects of the work. The methods remained essentially unchanged from the earlier case studies, except that an ASP.NET MVC4 website has been developed to improve the response time and to permit data analysis as the game is played. Each bidder has capacity to bid on three sites at any time, a bidder can purchase additional capacity from the bank to increase the number of allowed simultaneous bids. Each game lasts for twenty minutes, fifteen minutes of game play followed by a five minute break to simulate the work week. Each individual was given a personality test for the review of bidding performance with personality type. The conclusions were that the professional bidders were more competitive than subjects in prior studies, the bidder who made the most aggressive use of the bank loan performed best as has been consistently shown, but the personality results did not match prior findings. Further work with professionals is recommended. The electronic version of this dissertation is accessible from http://hdl.handle.net/1969.1/151953
Common Value Auctions And The Winner S Curse
DOWNLOAD
Author : John H. Kagel
language : en
Publisher: Princeton University Press
Release Date : 2021-04-13
Common Value Auctions And The Winner S Curse written by John H. Kagel and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-04-13 with Business & Economics categories.
An invaluable account of how auctions work—and how to make them work Few forms of market exchange intrigue economists as do auctions, whose theoretical and practical implications are enormous. John Kagel and Dan Levin, complementing their own distinguished research with papers written with other specialists, provide a new focus on common value auctions and the "winner's curse." In such auctions the value of each item is about the same to all bidders, but different bidders have different information about the underlying value. Virtually all auctions have a common value element; among the burgeoning modern-day examples are those organized by Internet companies such as eBay. Winners end up cursing when they realize that they won because their estimates were overly optimistic, which led them to bid too much and lose money as a result. The authors first unveil a fresh survey of experimental data on the winner's curse. Melding theory with the econometric analysis of field data, they assess the design of government auctions, such as the spectrum rights (air wave) auctions that continue to be conducted around the world. The remaining chapters gauge the impact on sellers' revenue of the type of auction used and of inside information, show how bidders learn to avoid the winner's curse, and present comparisons of sophisticated bidders with college sophomores, the usual guinea pigs used in laboratory experiments. Appendixes refine theoretical arguments and, in some cases, present entirely new data. This book is an invaluable, impeccably up-to-date resource on how auctions work--and how to make them work.
The Art Of Successful Bidding
DOWNLOAD
Author : George Reith
language : en
Publisher:
Release Date : 1928
The Art Of Successful Bidding written by George Reith and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1928 with Auction bridge categories.
Non Contractibility And Asset Specificity In Reverse Auctions
DOWNLOAD
Author : sunil mithas, joni jones, and will mitchell
language : en
Publisher:
Release Date : 2003
Non Contractibility And Asset Specificity In Reverse Auctions written by sunil mithas, joni jones, and will mitchell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
Spend Analysis
DOWNLOAD
Author : Kirit Pandit
language : en
Publisher: J. Ross Publishing
Release Date : 2008-02-15
Spend Analysis written by Kirit Pandit and has been published by J. Ross Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-02-15 with Business & Economics categories.
Spend analysis is a key component of strategic supply management. This book provides in-depth guidance on what spend analysis really is, what it specifically involves, and how to use it to help your organization achieve its full potential.