This Priest Lake auction had the most lots with competitive bids
of any Priest or Payette lakes state auction.
(3) As noted by Fisher (1987) and Bulow and Klemperer (1996), competitive bids
are likely to exhibit dispersion on quality and price dimensions, and bid dispersion increases the likelihood that the highest-quality/lowest-price bid will be included in the set under consideration.
But I should note again that the first phase is limited because it could not handle--and was never designed to handle--the last-minute flurry of large competitive bids
; nor does it have a reliable automated backup system.
The issue was 89 per cent oversubscribed and competitive bids
amounted to e1/4131m and non-competitive bids to e1/458m, the finance ministry's PDMO said in a statement on its website.
This will, in all likelihood, increase the possibility of the seller receiving multiple competitive bids
, and perhaps even lead to a "bidding" auction or sealed bids.
Therefore, the Florida statute restricting competitive bids
for accounting services was unconstitutional.
First, each institution that is "eligible" to submit competitive bids
in Treasury auctions would have a terminal-based telecommunications link to the Federal Reserve Bank of New York, either directly or through another Federal Reserve Bank.