Grey System Theory is a prediction model that is used in a variety of scenarios ranging from the human body, agriculture, economy, and other areas.
The article below explains how it coule be used in auctions and I wanted to try to recreate their results. http://www.irma-international.org/viewtitle/33169/ [PDF 1]
I worked with a professor I had in college to translate the math. While I believe we recreated the algorithm, we did not get the same results. We noticed some errors in the way that they wrote the formula. We found another article with the formula to compare them and to fill in some of the missing details. http://www.researchinformation.co.uk/grey/IntroGreySysTheory.pdf [PDF 2]
If anyone checks this out and has thoughts on why we couldn't come to the same results as PDF 1, I would love to know.