COMPETITIVE BIDDING ON IMPORT TENDERS: THE CASE OF MINOR OILSEEDS
William Wilson and
Matthew Diersen ()
No 23421, Agricultural Economics Reports from North Dakota State University, Department of Agribusiness and Applied Economics
Auctions and bidding play an important role in agricultural marketing. A common and noteworthy application of auctions and bidding is that of import tendering which is used for both price determination and the allocation of purchases among sellers. In this study we develop a model to evaluate bidding strategies and competition in Egyptian oilseeds imports. Information included the values of bids submitted by each supplier in each tender over the period 1990 to 1993. Results indicate that generally bids could be predicted for all bidders with a relatively high degree of confidence using simple relationships and accessible data. In addition, for each oil tender there appeared to be groups of bidders characterized by differences in their bid functions. The results are particularly interesting for understanding sellers' bidding strategies, competition among rivals, as well as impacts of specific variables on optimal bids and payoffs to sellers. Although this analysis is applied to a set of detailed data, the approach and implications have many applications in other bidding situations in agricultural marketing and contributes to understanding bidding strategies and competition.
Keywords: Marketing; International Relations/Trade (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed
Downloads: (external link)
Journal Article: COMPETITIVE BIDDING ON IMPORT TENDERS: THE CASE OF MINOR OILSEEDS (2001)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ags:nddaer:23421
Access Statistics for this paper
More papers in Agricultural Economics Reports from North Dakota State University, Department of Agribusiness and Applied Economics Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().