A decision approach to competitive electronic sealed-bid auctions for land

E Ballestero, C Bielza () and David Pla-Santamaria
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E Ballestero: Technical University of Valencia (Alcoy School)
C Bielza: Technical University of Madrid

Journal of the Operational Research Society, 2006, vol. 57, issue 9, 1126-1133

Abstract: Abstract Electronic markets for land are innovative techniques potentially advantageous to buyers and private sellers, the latter being interested in sealed-bid auctions assuring high levels of competition among many bidders so that coalitions and cooperative games are ruled out. Land electronic tendering requires sufficient online information for bidders such as valuation reports by prestigious surveyors. To help the bidder make his best choice, we propose a decision model for moderately pessimistic players facing tenders where competition among a great number of independent antagonists excludes the use of cooperative games and involves strict uncertainty. A worked example concerning farmland in Spain is presented.

Keywords: bidding; decision analysis; investment; online sales (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (2)

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DOI: 10.1057/palgrave.jors.2602097

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