FPSB

(redirected from First-Price Sealed Bid)
AcronymDefinition
FPSBFinancial Planning Standards Board
FPSBFrench Penspinning Board (France)
FPSBFirst-Price Sealed Bid (auction)
FPSBForum Peduli Sumatera Barat (Indonesian: Care Forum of West Sumatra)
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References in periodicals archive ?
The third kind is the first-price sealed bid auction, which is essentially the same as the Dutch auction - here each potential buyer submits a sealed bid independently.
Chernomaz and Levin (2011) analyze a simple bidding environment in a first-price sealed bid model where a single item is auctioned off in each of two markets.
The auctions had the character of first-price sealed bid auctions and were organized either as single-contract or simultaneous multicontract auctions.
Referring to the present theoretical guidance concerning first-price sealed bid combinatorial auction--albeit not precisely modeling the bidding environment of the auctions from which we have collected the data--we predict the stand-alone bids to be higher than the bids on individual contracts in standard auctions for two reasons.
first-price sealed bid) for a given item, and fixed market size of two bidders.
The bidding process in public procurement in Sweden is a first-price sealed bid auction.
Because there is a competitive effect on the bids in the first-price sealed bid auction, (4) the lowest bidder is the one who offers to complete the contract at the lowest cost.
The main issue in this paper, is why there is a difference between practice and theory, in other words, why does the contracting entity use the option to restrict the competition instead of just using the plain first-price sealed bid auction?
Assume that a number of fixed price public internal cleaning contracts (NC) are auctioned by means of a first-price sealed bid auction.
The four standard mechanisms for selling a fixed quantity as in a single unit or lot are the English, Dutch, first-price sealed bid, and second-price sealed bid auctions.
For the first-price sealed bid auction, the party submitting the highest bid wins the auction and pays a price equal to his winning bid, whereas in the second-price sealed bid auction, the party submitting the highest bid wins but pays a price equal to the second highest bid.
The Dutch price, English price, first-price sealed bid, and second-price sealed bid auctions are all commonly used institutions that have been studied extensively both theoretically and empirically.