A note on competitive bidding with asymmetric information

Article Abstract:

As originally stated by R. Wilson in 1967, the problem investigated involves bidding when asymmetrical knowledge as to an auctioned item's true value is known. The competitive bidding problem is analyzed under the assumptions of alternative behavioral strategies and Stackelberg equilibria are defined for the game. For several different auction outcomes, mathematical models are developed to indicate the relative gains for the seller of the auctioned item and for two buyers.

Case studies, Letting of contracts, Competitive bidding, Game theory

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The channel intermediary selection decision: a model and an application

Article Abstract:

The design of the distribution channel involves the choice of the proper channel format and the appropriate selection of the proper intermediaries. The article examines a decision format and a model that will help management with the tactical selection of markets and channel intermediaries. A real industrial marketing application is presented to support the model-based decision technique.

Analysis, Distribution (Economics), Management research, Distribution channels

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