The Optimization of Banks Expenditures by Setting the Effective Initial Bidding Price

In this paper a method has been developed to establish an effective initial bidding price. The method is designed to reduce the costs of the "Sberbank of Russia". At the beginning of the study it was assumed that this method would reduce the administrative bank expenses, but according to the results of the analysis, it was found that this method also reduces staff costs. Thus, it is expected a positive economic efficiency from the application of the developed method. This study used the internal data of "Sberbank of Russia" about a purchasing activity from 2015 to 2017, the number of observations is 390. To create the method econometric analysis was used on the basis of hierarchical cluster, discriminant and multiple regression analysis with a linear functional form. Econometric analysis made it possible to reveal the patterns of lowering the initial price in different clusters, which made it possible to develop a method.