Design of Bidding Mechanisms
We develop auctions and other market designs that are tailored to our client’s situation. Here is our typical approach:
- Confirm your objectives and desired outcomes
- Design the items, products, assets, and contracts you want to sell or purchase
- Assess likely bidders and their characteristics
- Design an optimal bidding mechanism based on proven theoretical foundations and practical experience with real markets and transactions – the “science” and “art” of successful bidding designs
- Formalize clear, comprehensive rules that will describe the bidding process, encourage competitive participation, and prevent gaming
Managing Trading Events
We have implemented and managed hundreds of successful trading events with transaction values ranging from hundreds of thousands to billions of dollars.
We develop detailed implementation plans that include tasks, responsibilities, and the timeline. Depending on your needs, we can assume responsibility for document preparation, marketing and promotion, communications protocols, stakeholder consultations, information Websites, bidder information sessions, data rooms, bidder registration and qualification, customized trading platform software such as our Trading System for Efficient Markets (TSEM™), demos, mock auctions, training, and hosting services for auctions and other trading events. We conduct trading events in several languages.
Electronic Trading Platforms & Software
We develop and customize software applications, systems, trading platforms, and tools used to manage auctions and trading events and to support bidders and other participants.
TSEMTM platform: Our auction and trading platforms, including our Trading System for Efficient Markets (TSEMTM), comprise public information Websites and secure administration, bidding, and monitoring Websites that facilitate a complete, multi-lingual, integrated solution for our clients. Our team will recommend and can implement an online trading platform using a parameterized version of TSEMTM that is tailored and scaled to your sales and/or purchasing needs.
Site hosting: We have hosted over 1,000 auctions and trading events for various industries. Our trading events use a dedicated facility and resources, including secure IT, network, and telecommunications systems, and they support hundreds of bidders per event simultaneously in numerous time zones. We also provide a multilingual help desk.
Bid Tracking Tool (BTT): Bidders can use our BTT software to collect, analyze, and interpret real-time auction data. The BTT facilitates analysis of other bidders’ actions to optimize the client’s bidding strategy. The BTT can be used through a Web browser or a desktop application.
Auction & Market Monitoring
We provide independent analysis and monitoring of auctions and market mechanisms. We facilitate the entire process, improving the design and implementation of the market mechanism to ensure that it is conducted in accordance with your expectations and requirements. We can be involved from the initial stages through conclusion and provide a final report that includes an assessment of the process and the outcome as well as recommendations for improvements.
Bidder Support & Strategy
We provide auction and market participants with strategic advice and other valuable support services prior to and during the auction process.
Depending on specific needs, we prepare participants for bidding processes through some or all of the following:
- Analyzing bidding mechanisms and rules and providing comments to the auctioneer or market administrator in support of our client
- Conducting financial analyses and valuation of the assets or products being offered
- Presenting seminars on auction and game theory, bidding strategies, and their practical applications
- Analyzing the specific market mechanism and rules and the implications and opportunities they provide
- Assessing competitors, including their likely strategies
- Assisting with the application and bidder qualification process
- Providing a logistics and operations plan and the support needed to be an effective participant with the optimal resources
- Assisting bidders in mock auctions and providing auction software training
- Customizing bid-tracking software tools to facilitate interpretation of bidding data and bidding behavior
- Providing advice on optimal bidding strategies and bids
- Monitoring and analyzing competitors’ bids and behavior
Regulatory & Dispute Matters
We deliver expert regulatory and litigation and other support services in disputes and other matters involving auction and other bidding mechanisms. The services include the following:
- Expert witness and other litigation support
- Analysis of bidding mechanism design
- Analysis of bidding rules and procedures
- Analysis of bids
- Assessment of bidding competition
- Assessment of the conduct of the overall process
- Data analysis