Auctions CBD

Auctions CBD - MODELING AN AUCTION INDIVIDUAL COMPANIES BID...

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251.8 Signals Our Company Company 2 Company 3 Company 4 Company 5 Company 6 Company 7 284.6 240.0 242.1 253.2 259.7 266.7 244.2 Company 8 Company 9 Company 10 Company 11 Company 12 Company 13 Company 14 242.9 270.0 270.3 262.4 259.3 254.9 232.6 Company 15 Company 16 Company 17 Company 18 Company 19 226.0 271.6 266.0 255.9 238.3 Value of the Lease MODELING AN AUCTION INDIVIDUAL COMPANIES BID THEIR SIGNALS The value of a lease is simulated from a normal distribution with a mean of 229.82 and a standard deviation of 38.73. The errors in 19 signals are simulated from a normal distribution with a mean of 0 and a standard deviation of 13.53. These are added to the value of the lease to simulate the signals that bidders receive. We assume that each company bids its signal. All monetary amounts are given in millions of dollars. Pressing F9 simulates a new auction. Calculus for Business Decisions Release 2.1, 2010 Published and Distributed by The Mathematical Association of America © 2010 by The Arizona Board of Regents for The University of Arizona. All rights reserved.
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Winner Winner Winning Bid Our Company 284.6 -32.8 Winner's Extra Profit
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284.6 240.0 242.1 Our Company Company 2 Company 3
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253.2
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This note was uploaded on 10/27/2010 for the course ECE 220 taught by Professor Strickland during the Spring '08 term at Arizona.

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Auctions CBD - MODELING AN AUCTION INDIVIDUAL COMPANIES BID...

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