Encyclopedia of Operations Research and Management Science

2001 Edition
| Editors: Saul I. Gass, Carl M. Harris

Independent private values bidding model

Reference work entry
DOI: https://doi.org/10.1007/1-4020-0611-X_449

A bidding model in which bidder's estimate of value for what is being auctioned is statistically independent of the value estimate for any other bidder. In such a model, no bidder has any reason to adjust an estimate of value upon learning the information of any other bidder. Bidding models.

Copyright information

© Kluwer Academic Publishers 2001

Authors and Affiliations

  1. 1.Robert H. Smith School of BusinessUniversity of MarylandCollege PartUSA
  2. 2.School of Information Technology & EngineeringGeorge Mason UniversityFairfaxUSA