As noted above, Roth and Ockenfels (2002) argue convincingly that rational bidders
may wait to place their final bid until near the end of an auction, in an effort to pay lower prices.
Impermissible contacts with the governmental entity occurs when the bidder
contacts an individual at a state agency who is not the "designated contact person" for the particular procurement in an attempt to influence that agency.
i) Such bidder
will extend its tender offer and close it no earlier than the other bidder
's tender offer so as not to enjoy a timing advantage, subject to a reciprocal obligation on the part of the bidder
selected by the Board;
were slightly different but both would work, Sanglerat said.
Stylized Fact #1: Sellers restrict the number of bidders
Both sides should be required to agree that all tender offers (including increased offers made in accordance with paragraph 1 above) should be required to close simultaneously, with neither bidder
having a timing advantage over the other.
This is the "winner's curse" and gives aggressive bidders
an additional reason to rein in their enthusiasm.
will know exactly how much they are bidding with every bid.
The announcement that the MetLife building is up for sale may cause some Verizon bidders
to reconsider the aggressiveness of their bids--and effectively take them out of the running--in an effort to reallocate financing towards the MetLife building's mammoth $1.
They also said the district wanted as many bidders
The first RFP targets small office buildings with under 200 kW of summer demand and calls for a total of 30 million kWh of energy savings, Edison will award three performance contracts to three different bidders
each for 10 million kWh.
, including nonbank securities brokers and dealers, will also be able to install Fedline terminals and submit bids electronically.