Toward a study of bidding processes some constant-sum games

摘要: The study of bidding has presented both economics and psychology with a host as yet unresolved problems. lack understanding these problems been manifested in the difficulties confronting policy-makers framing laws to deal collusive or restrictive practices under various market mechanisms. On one hand, theory competitive behavior may call for all competitors charge same price product, submission identical bids may, fact, be criterion collusion. This paper, first series on bidding, gives general preliminary discussion several factors entering into construction models process. Following this discussion, number situations, formulated two-person constant-sum games are examined. A open questions, suggested during investigation such games. mentioned. Succeeding papers will devoted more important cases non-constant-sum games, single-shot sequences bids.