Skitmore, Martin - In: Journal of the Operational Research Society 65 (2014) 12, pp. 1864-1875
A generalised bidding model is developed to calculate a bidder’s expected profit and auctioners expected revenue/payment for both a General Independent Value and Independent Private Value (IPV) kmth price sealed-bid auction (where the mth bidder wins at the kth bid payment) using a linear...