Study on Bidding Decision Making of Two-Object Auction Based on Random Estimate

In the persons two-object auction, the necessary condition for the bidders to participate in the auction is determined based on random estimate. After comparing this necessary condition with the one based on real estimate, then two similar conclusions have been made. Meanwhile the risks absorbed by the bidders because of their wrong estimate is analyzed. It is concluded that there is a close relationship between the risks and estimate accuracy made by the bidders.