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State of the Art—Auctions and Bidding Models: A Survey

Richard Engelbrecht-Wiggans
Richard Engelbrecht-Wiggans
University of Illinois at Urbana-Champaign
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Richard Engelbrecht-Wiggans

University of Illinois at Urbana-Champaign

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Published Online:1 Feb 1980https://doi.org/10.1287/mnsc.26.2.119

Cited by
- Competing art auctions
  2 April 2026 | Oxford Economic Papers, Vol. 55
- Price trends in sequential auctions: The case of collectible cars
  Journal of Behavioral and Experimental Economics, Vol. 121
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  23 May 2025 | Agribusiness, Vol. 38
- Auction Theory and Device Bidding Functions for Transactive Energy Systems: A Review
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- Gates’ bidding model (revisited)
  27 February 2023 | Construction Management and Economics, Vol. 41, No. 7
- A Survey on Data Pricing: From Economics to Data Science
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- Within- and Cross-Auction Geographic License Complementarities in FCC Spectrum Auctions
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- The impact of strategic jump bidding in residential English auctions
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- Supply—what sellers want
- Costing biodiversity protection: payments for environmental services schemes in Lao PDR
  16 April 2018 | Journal of Environmental Economics and Policy, Vol. 7, No. 4
- Determining bid markup and resources allocated to cost estimation in competitive bidding
  Automation in Construction, Vol. 85
- Bidding
  15 February 2018
- An Updated Look at the Factors Contributing to the Final Selling Price of Auctioned Gift Cards
  16 May 2017 | Journal of Internet Commerce, Vol. 16, No. 3
- Multi-period resource allocation for estimating project costs in competitive bidding
  22 February 2016 | Central European Journal of Operations Research, Vol. 25, No. 2
- Can payments for ecosystem services schemes mimic markets?
  Ecosystem Services, Vol. 23
- Improving the estimation of probability of bidder participation in procurement auctions
  International Journal of Project Management, Vol. 34, No. 2
- Optimal bidding in auctions from a game theory perspective
  European Journal of Operational Research, Vol. 248, No. 2
- Robust order promising with anticipated customer response
  International Journal of Production Economics, Vol. 170
- Analysis of the distribution of the number of bidders in construction contract auctions
  16 October 2015 | Construction Management and Economics, Vol. 33, No. 9
- BIDDING DECISION IN LAND AUCTION USING PROSPECT THEORY
  International Journal of Strategic Property Management, Vol. 19, No. 2
- A festschrift for Graham Ive
  21 May 2015 | Construction Management and Economics, Vol. 33, No. 2
- ESTIMATING FUTURE BIDDING PERFORMANCE OF COMPETITOR BIDDERS IN CAPPED TENDERS
  JOURNAL OF CIVIL ENGINEERING AND MANAGEMENT, Vol. 20, No. 5
- Countervailing incentives in allocation mechanisms with type-dependent externalities
  Journal of Mathematical Economics, Vol. 50
- A sequential competitive bidding strategy considering inaccurate cost estimates
  Omega, Vol. 42, No. 1
- Optimal allocation mechanisms with type-dependent negative externalities
  2 December 2012 | Theory and Decision, Vol. 75, No. 3
- Varying the number of bidders in the first-price sealed-bid auction: experimental evidence for the one-shot game
  22 May 2013 | Theory and Decision, Vol. 75, No. 3
- Pricing Strategy for Best Value Tender
  Journal of Construction Engineering and Management, Vol. 139, No. 6
- Detecting abnormal and collusive bids in capped tendering
  Automation in Construction, Vol. 31
- On competitive bidding: Scoring and position probability graphs
  International Journal of Project Management, Vol. 31, No. 3
- Auction and Bidding Models
  23 January 2016
- Matching, Auctions, and Market Design
  SSRN Electronic Journal, Vol. 33
- On bidding for a fixed number of items in a sequence of auctions
  European Journal of Operational Research, Vol. 222, No. 1
- Mathematical relationships between scoring parameters in capped tendering
  International Journal of Project Management, Vol. 30, No. 7
- The iso-Score Curve Graph. A new tool for competitive bidding
  Automation in Construction, Vol. 22
- Simulation-Based Auction Protocol for Resource Scheduling Problems
  Journal of Construction Engineering and Management, Vol. 138, No. 1
- A Unified Classification Ecosystem for Auctions
- Factors Contributing to the Final Selling Price of Auctioned Gift Cards
  Journal of Internet Commerce, Vol. 10, No. 3
- Auctions and bidding: A guide for computer scientists
  SSRN Electronic Journal, Vol. 3
- A Unified Classification Ecosystem for Auctions
  International Journal of Operations Research and Information Systems, Vol. 1, No. 3
- A multi‐criteria model for bidding evaluation
  Management Decision, Vol. 48, No. 2
- Configurable e-negotiation systems for large scale and transparent decision making
  5 April 2007 | Group Decision and Negotiation, Vol. 17, No. 3
- Optimality and Efficiency in Auctions Design: A Survey
- Should Online Auctions Employ Dynamic Buyout Pricing Models?
- On the amount and timing of project payments with hints to customary contracting in Germany
  Gestão & Produção, Vol. 14, No. 3
- Gates’ Bidding Model
  Journal of Construction Engineering and Management, Vol. 133, No. 11
- Do Auction Parameters Affect Buyer Surplus in E‐Auctions for Procurement?
  1 July 2007 | Production and Operations Management, Vol. 16, No. 4
- Combinatorial auctions
  1 May 2007 | Annals of Operations Research, Vol. 153, No. 1
- An integrated model exploring sellers’ strategies in eBay auctions
  4 May 2007 | Electronic Commerce Research, Vol. 7, No. 2
- Auctions With Type-Dependent and Negative Externalities: The Optimal Mechanism
  SSRN Electronic Journal, Vol. 54
- Price discovery in combinatorial auctions using Gibbs Sampling
  Decision Support Systems, Vol. 42, No. 2
- Modeling dynamic sealed-offer k -double auctions using a mixture of distributions
  Mathematical and Computer Modelling, Vol. 44, No. 1-2
- A Descriptive Auction Language
  Electronic Markets, Vol. 16, No. 1
- Market clearing price discovery in a single and double-side auction market mechanisms: Linear programming solution
- Learning in a “Basket of Crabs”: An Agent-Based Computational Model of Repeated Conservation Auctions
- Exploring Auction Mechanisms for Role Assignment in Teams of Autonomous Robots
- Are Auctions More Efficient Than Fixed Price Schemes When Bidders Learn?
  1 December 2004 | Australian Journal of Management, Vol. 29, No. 2
- Start-up and steady-state learning in recurrent bidding
  Building Research & Information, Vol. 32, No. 6
- A conceptual research framework for analyzing online auctions in a B2B environment
  Supply Chain Management: An International Journal, Vol. 9, No. 4
- Auction Price Anomalies: Evidence from Wool Auctions in Australia*
  17 August 2004 | Economic Record, Vol. 80, No. 250
- Transparency and Bidding Competition in International Wheat Trade
  15 July 2005 | Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Vol. 52, No. 1
- Deciding on the Mode of Negotiation: To Auction or Not to Auction Electronically
  5 April 2006 | Journal of Supply Chain Management, Vol. 40, No. 1
- Literaturverzeichnis
- Production planning and order acceptance in business to business electronic commerce
  International Journal of Production Economics, Vol. 85, No. 2
- Collusive Practices in Repeated English Auctions: Experimental Evidence on Bidding Rings
  American Economic Review, Vol. 93, No. 3
- Game Theory
  15 April 2003
- Bidding behavior at the auction
  4 March 2003 | Psychology & Marketing, Vol. 20, No. 4
- Endogenous entry in auctions with negative externalities
  Theory and Decision, Vol. 54, No. 2
- Agent-based Bidding in Electronic Markets
- Combinatorial auctions using rule-based bids
  Decision Support Systems, Vol. 34, No. 1
- Auctioneer strategy and pricing: evidence from an art auction
  Marketing Intelligence & Planning, Vol. 20, No. 7
- The effect of experience on contractors' competitiveness in recurrent bidding
  Construction Management and Economics, Vol. 20, No. 8
- A theoretical framework for determining the minimum number of bidders in construction bidding competitions
  Construction Management and Economics, Vol. 20, No. 6
- Optimal Investment in Knowledge Within a Firm Using a Market Mechanism
  Sulin Ba,
  Jan Stallaert,
  Andrew B. Whinston,
  1 September 2001 | Management Science, Vol. 47, No. 9
- Multicriteria support for construction bidding
  Mathematical and Computer Modelling, Vol. 34, No. 5-6
- A Parametrization of the Auction Design Space
  Games and Economic Behavior, Vol. 35, No. 1-2
- BIDDING MODELS
  25 October 2005
- Evaluation of a Truthful Revelation Auction in the Context of Energy Markets with Nonconcave Benefits
  Journal of Regulatory Economics, Vol. 18, No. 1
- Friedman and Gates—Another Look
  Journal of Construction Engineering and Management, Vol. 126, No. 4
- On combinatorial auction and Lagrangean relaxation for distributed resource scheduling
  IIE Transactions, Vol. 31, No. 9
- References
- References
- The Impact of Auctions on Residential Sales Prices in New Zealand
  17 June 2020 | Journal of Real Estate Research, Vol. 16, No. 1
- Game theory and empirical economics: The case of auction data
  European Economic Review, Vol. 41, No. 1
- Incentives, information, and winner's curse in construction industry bidding
- Common value auctions with independent types
  Economic Design, Vol. 2, No. 1
- Multiple unit auctions of an indivisible good
  Economic Theory, Vol. 8, No. 1
- B
- Futures trading in less ‘noisy’ markets
  Japan and the World Economy, Vol. 7, No. 2
- Application of auctions as a pricing mechanism for the interchange of electric power
  IEEE Transactions on Power Systems, Vol. 10, No. 3
- Real estate auctions: A survey of theory and practice
  The Journal of Real Estate Finance and Economics, Vol. 9, No. 1
- The demand for agricultural land and strategic bidding in auctions
  The Journal of Real Estate Finance and Economics, Vol. 8, No. 2
- The Nearly Perfect Auctioneer: Cryptographic Protocols for Auctions and Bidding
- Chapter 19 Models of auctions and competitive bidding
- Predicting the Winner's Curse
  7 June 2007 | Decision Sciences, Vol. 25, No. 1
- Cryptographic protocols for Vickrey auctions
  Group Decision and Negotiation, Vol. 2, No. 4
- First price auctions with entry: An experimental investigation
  The Quarterly Review of Economics and Finance, Vol. 33, No. 2
- Sequential auctions with delay costs
  Economics Letters, Vol. 42, No. 2-3
- Competitive Tendering and Bidding
- Strategic behavior in pooled condominium auctions
  Journal of Urban Economics, Vol. 31, No. 1
- Chapter 8 Strategic analysis of auctions
- A bayesian forecasting model for sequential bidding
  2 November 2006 | Journal of Forecasting, Vol. 10, No. 6
- Are joint bidding and competitive common value auction markets compatible?—some evidence from offshore oil auctions
  Journal of Environmental Economics and Management, Vol. 20, No. 2
- Designing a preferred bidding procedure for securing electric generating capacity
  10 November 2006 | Managerial and Decision Economics, Vol. 12, No. 1
- Auction design and bidding strategy for the note issuance facility
  Asia Pacific Journal of Management, Vol. 7, No. 2
- Collective Decision Making Problems Under Competitive Situation and Their Interactive Solution
  IFAC Proceedings Volumes, Vol. 23, No. 8
- Forecasting competitors' actions
  International Journal of Forecasting, Vol. 6, No. 1
- Static game theory models and their applications in management science
  European Journal of Operational Research, Vol. 42, No. 1
- Multi-person Decision Making Problem and its Solving by a Negotiation Procedure
  IFAC Proceedings Volumes, Vol. 22, No. 10
- Pricing Policy
- Bidding
- Guiding the ocean search process: Applying public land experience to the design of leasing and permitting systems for ocean mining and ocean shipwrecks
  16 November 2009 | Ocean Development & International Law, Vol. 20, No. 6
- Tenders and estimates: a probabilistic model
  Construction Management and Economics, Vol. 6, No. 3
- Expert systems and economic policy analysis: An application to OCS auction leasing
  Computer Science in Economics and Management, Vol. 1, No. 2
- Multidimensional auctions
  Economics Letters, Vol. 28, No. 1
- Recurrent competitive bidding
  European Journal of Operational Research, Vol. 33, No. 1
- Does area-wide offshore leasing decrease bonus revenues?
  Resources Policy, Vol. 13, No. 4
- Semi-Markov dynamic programming approach to competitive bidding with state space reduction considerations
  European Journal of Operational Research, Vol. 32, No. 3
- Estimates given and tenders received: a comparison
  Construction Management and Economics, Vol. 5, No. 3
- Allocation of research funds in competitive environment. A computerized negotiation system
  Scientometrics, Vol. 12, No. 3-4
- An analysis of FDIC failed bank auctions
  Journal of Monetary Economics, Vol. 20, No. 1
- Optimal constrained bidding
  International Journal of Game Theory, Vol. 16, No. 2
- EQUILIBRIUM CONDITIONS OF THE INTERACTIVE SYSTEM FOR COLLECTIVE DECISION MAKING
- Bidding
  17 November 2016
- A comparison of pricing rules for auctions and fair division games
  Social Choice and Welfare, Vol. 3, No. 3
- Equilibrium Conditions of the Interactive System for Collective Decision Making
  IFAC Proceedings Volumes, Vol. 19, No. 10
- Forecasting for firms selling projects or jobs “to order”
  Industrial Marketing Management, Vol. 15, No. 2
- General Methods for Benefits Assessment
- The application of laboratory experimental economics to the contingent valuation of public goods
  Public Choice, Vol. 49, No. 1
- SEALED‐BID VERSUS OPEN AUCTIONS: THE EVIDENCE
  28 September 2007 | Economic Inquiry, Vol. 24, No. 1
- Sealed bid auctions: an application to the building industry
  28 July 2006 | Construction Management and Economics, Vol. 3, No. 2
- Factors Affecting the Price of Hay at a Pennsylvania Auction
  10 May 2017 | Northeastern Journal of Agricultural and Resource Economics, Vol. 14, No. 1
- The Trading Decision and Market Clearing under Transaction Price Uncertainty
  30 April 2012 | The Journal of Finance, Vol. 40, No. 1
- Dividing Coastal Waters
  1 March 1985 | Journal of Conflict Resolution, Vol. 29, No. 1
- Competition and information acquisition in first price auctions
  Economics Letters, Vol. 18, No. 2-3
- References
- Alternative radio licensing arrangements
  Telecommunications Policy, Vol. 7, No. 2
- Competitive bidding and proprietary information
  Journal of Mathematical Economics, Vol. 11, No. 2

Volume 26, Issue 2

February 1980

Pages 119-227

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Published Online:February 01, 1980

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Richard Engelbrecht-Wiggans, (1980) State of the Art—Auctions and Bidding Models: A Survey. Management Science 26(2):119-142.

https://doi.org/10.1287/mnsc.26.2.119

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State of the Art—Auctions and Bidding Models: A Survey

Volume 26, Issue 2

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