bidder behavior

Bidder behavior refers to how individuals or companies decide how much to offer when competing for a project or item. This involves analyzing factors like the value of the item, costs involved, previous bidding patterns, and strategies to win while maintaining profitability. Bidders aim to balance competitiveness with their own interests, sometimes bidding low to secure the deal or high to maximize profit. Understanding bidder behavior helps in predicting outcomes and designing better auction systems, as it reflects the decisions and strategies bidders use based on their goals, market conditions, and available information.