University of Illinois Urbana-Champaign

On pessimistic samples, with applications to bidding theory / BEBR No. 485

Smith, James Lee

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https://hdl.handle.net/2142/27023

Description

Title
On pessimistic samples, with applications to bidding theory / BEBR No. 485
Author(s)
Smith, James Lee
Contributor(s)
University of Illinois at Urbana-Champaign. College of Commerce and Business Administration
Issue Date
1978-05-09
Keyword(s)
  • Letting of contracts -- Mathematical models.
  • Sampling (Statistics)
Abstract
"""The concept of statistical pessimism is introduced as it relates to the estimation of an unknown population parameter. Samples drawn from the population are then ordered on the basis of sample size in terms of increasing pessimism regarding the parameter value. Such an ordering can be achieved for a broad class of distributional parameters. The ordering is applied to bidding theory in order to explain why an individual bidder might adopt less aggressive behavior as the number of competitors increase."""
Publisher
[Urbana, Ill.] : College of Commerce and Business Administration, University of Illinois at Urbana-Champaign,
Series/Report Name or Number
Faculty working papers ; no. 485
Type of Resource
text
Language
eng
Permalink
http://hdl.handle.net/2142/27023
Has Version(s)
  • http://hdl.handle.net/10111/UIUCOCA:onpessimisticsam485smit
  • http://www.archive.org/details/onpessimisticsam485smit
Copyright and License Information
Copyright May 9 1978 Board of Trustees University of Illinois.

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Research publications from the University of Illinois at Urbana-Champaign PRIMARY
Research Publications from UIUC