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RBA Glossary definition for bid

bid – The price offered to purchase securities in the primary market. In relation to a tender, a bid also includes the volume willing to be bought at the price offered.

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Appendix D: Seller Reserve Prices

31 Dec 2014 RDP 2014-09
David Genesove and James Hansen
where. is again drawn uniformly on. The seller accepts the highest bid made if. , ... In the case that the final bid is accepted, the price is given by:.
https://www.rba.gov.au/publications/rdp/2014/2014-09/appendix-d.html

Introduction

31 Dec 2014 RDP 2014-09
David Genesove and James Hansen
This is because buyers use information contained in other participants' bids to help refine their own estimate of a dwelling's value. ... upwardly revises their own assessment of the dwelling's value using the information contained in others' bids.
https://www.rba.gov.au/publications/rdp/2014/2014-09/introduction.html

Why Does the Mechanism of Sale Matter?

31 Dec 2014 RDP 2014-09
David Genesove and James Hansen
In any one auction, bids are observed by all other buyers and the buyer with the highest bid wins, paying that amount. ... In the private values case, the optimal pre-announced reserve price and vendor bid are equivalent.
https://www.rba.gov.au/publications/rdp/2014/2014-09/why-does-mechanism-sale-matter.html

Appendix B: A Theoretical Example

31 Dec 2014 RDP 2014-09
David Genesove and James Hansen
and an idiosyncratic component. :. We assume that. is uniformly distributed with support. We assume buyers participate in an ascending bids English auction – the mechanism commonly used to sell dwellings in Australia –
https://www.rba.gov.au/publications/rdp/2014/2014-09/appendix-b.html