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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
Subject(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."
Issue Date:May 9 1978
Publisher:[Urbana, Ill.] : College of Commerce and Business Administration, University of Illinois at Urbana-Champaign,
Series/Report:Faculty working papers ; no. 485
Description:"The author wishes to thank Edward Rice for helpful suggestions."
Includes bibliographical references (leaf 11).
Rights Information:Copyright May 9 1978 Board of Trustees University of Illinois.
Date Available in IDEALS:2011-09-15
Has Version(s):
Identifier in Online Catalog:321427
OCLC Identifier:(OCoLC)ocm05108720

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