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A bid price is the highest price that a buyer (i.e., bidder) is willing to pay for some goods. It is usually referred to simply as the "bid". In bid and ask, the bid price stands in contrast to the ask price or "offer", and the difference between the two is called the bid–ask spread. An unsolicited bid or purchase offer is when a person or ...
Auction theory is a branch of applied economics that deals with how bidders act in auctions and researches how the features of auctions incentivise predictable outcomes. . Auction theory is a tool used to inform the design of real-world au
A financial quotation refers to specific market data relating to a security or commodity.While the term quote specifically refers to the bid price or ask price of an instrument, it may be more generically used to relate to the last price which this security traded at ("last sale"). [1]
Price theory is a field of economics that uses the supply and demand framework to explain and predict human behavior. It is associated with the Chicago School of Economics. Price theory studies competitive equilibrium in markets to yield testable hypotheses that can be rejected. Price theory is not the same as microeconomics.
The bid–ask spread (also bid–offer or bid/ask and buy/sell in the case of a market maker) is the difference between the prices quoted (either by a single market maker or in a limit order book) for an immediate sale and an immediate purchase for stocks, futures contracts, options, or currency pairs in some auction scenario.
Psychological pricing (also price ending or charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. [ 1 ]
The Bid Construction Problem (BCP) or the Bid Generation Problem (BGP) is a NP-Hard combinatorial optimization problem addressed by the bidder in order to determine items it is interested to bid on and the prices asked for acquiring these items.
Each bidder submits a bid, which only depends on their valuation. Bidders do not know the valuations of other bidders. The analysis is based on an independent private value (IPV) environment where the valuation of each bidder is drawn independently from a uniform distribution [0,1].