On pessimistic samples, with applications to bidding theory
By: James L. Smith
Contributors: University of Illinois at Urbana-Champaign. College of Commerce and Business Administration
Series: Faculty working papers -- no. 485; Faculty working papers -- no. 485.
Publisher: College of Commerce and Business Administration, University of Illinois at Urbana-Champaign
Published: 1978
Place of publication: [Urbana, Ill.]
Language: eng
Number of pages: 11
Other titles: Bidding theory.
Description: "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."
Notes: "The author wishes to thank Edward Rice for helpful suggestions."

Includes bibliographical references (leaf 11).