In the simple model, there are items to be auctioned off in sequence (first item 0, then item 1, etc.). The bidder must place a bid for each item , and after each bid, a closing price is chosen for the corresponding item from a distribution specific to the item. If the bid matches or exceeds the closing price, , the bidder holds item , . Otherwise, the bidder does not hold the item, . The bidder's utility is a function of its final vector of holdings and its cost is a function of the holdings and the vector of closing prices, . We will formalize the problem of optimal bid selection and develop a series of approximations to make the problem solvable.