I've used PRICELINE couple of times, and I have a good idea how it works, but I hope I can get some advice from pros about the bidding algorithm.
I see there's a "Best Price Guarantee" above price field in Name Your Own Price, and it describes how they would refund differences.
If Priceline.com lists two hotels in identical area and same star rating, assume Hotel 1 is $100 and Hotel 2 is $150 standard price, just directly bidding $70 etc will probably get you Hotel 1, but does that mean if I bid $101, I can avoid Hotel 1 since it would violate the best price guarantee?
