Bid to win supply contracts in a sealed reverse auction. Bid low and you win often on razor-thin margin; bid high and you bank fat profit - if you win at all. Shade your bid the way the theory says.
In a sealed reverse auction the lowest qualifying bid wins. Your bid is your cost plus a margin (shade). More shade means more profit per win but a lower chance of winning at all.
Each round you face several rivals whose bids you cannot see. You win only if your bid beats every rival and the buyer’s reserve. Scouting narrows the uncertainty about rival bids.
Shade to the point that maximises expected profit = P(win) × margin - usually a moderate markup, not the extremes. Scout when rival behaviour is noisy.
