Table 4 Prices and profits for various holding cost c 1 values when the bidding prices X 0 and X 1 are independent and follow the distribution of a 0+G with G∼Ga(α,β)
α | β | σ G | Π(p 0,max,p 1,c,max) | p 0,max | p 1,c,max | \(\Pi (p^{\max }_{0,c},p^{\max }_{1,c})\) | \(p^{\max }_{0,c}\) | \(p^{\max }_{1,c}\) | |
|---|---|---|---|---|---|---|---|---|---|
c 1=20 | 100 | 2 | 5 | 238.2367 | 238.3686 | 238.5186 | 241.0633 | 243.3410 | 238.5186 |
25 | 0.5 | 10 | 229.8538 | 230.1152 | 230.4159 | 234.9445 | 239.6038 | 230.4159 | |
6.25 | 0.125 | 20 | 216.9603 | 217.3732 | 217.9019 | 225.1370 | 234.1515 | 217.9019 | |
2.78 | 0.056 | 30 | 207.2347 | 207.5638 | 208.1217 | 217.2595 | 230.1206 | 208.1216 | |
c 1=100 | 100 | 2 | 5 | 237.7470 | 238.3686 | 239.3381 | 238.2509 | 239.9507 | 239.3381 |
25 | 0.5 | 10 | 228.9377 | 230.1152 | 232.1152 | 229.8364 | 233.0915 | 232.1152 | |
6.25 | 0.125 | 20 | 215.5916 | 217.3732 | 221.1499 | 216.9273 | 222.2088 | 221.1500 | |
2.78 | 0.056 | 30 | 206.1066 | 207.5638 | 212.1154 | 207.4254 | 212.7300 | 212.1154 | |
c 1=150 | 100 | 2 | 5 | 237.4428 | 238.3686 | 240.2109 | 237.6034 | 239.1895 | 240.2109 |
25 | 0.5 | 10 | 228.3730 | 230.1152 | 234.0368 | 228.6428 | 231.6018 | 234.0368 | |
6.25 | 0.125 | 20 | 214.7622 | 217.3732 | 225.3874 | 215.1202 | 219.6026 | 225.3874 | |
2.78 | 0.056 | 30 | 205.4343 | 207.5638 | 218.7960 | 205.7393 | 209.6705 | 218.7952 |