Modeling Competitive Bidding: A Critical Essay
批判性分析现有投标模型在真实交易中的适用性，回顾主流拍卖理论及其扩展，指出需丰富模型以贴近决策实践。
In analyzing bidding, modeling matters. This paper is a critical analysis of the models available to aid competitive bidding decision making—bidding strategy and auction design—in real transactions. After an introductory overview, this paper describes the contexts in which auctions arise, reviews the “mainstream” theory of single, isolated auctions and discusses the important work involved in enrichment of this theory. In doing so, it indicates results that have been obtained and the sort of changes in analytical approach that are needed to tackle other critical enrichments. The paper summarizes briefly what is known about the direct use of models by bidders and auction designers. A general theme of this paper is that enriched models are needed to bring bidding theory closer to direct applicability in decision making.