Group Decision and Negotiations Proceedings
نویسنده
چکیده
Winning bids in reverse auctions are efficient solutions (providing that fairly weak assumptions about the bidders are met). The auctions are efficient, un‐der the assumption that the utilities of all participants are quasi‐linear. This assumption is often unrealistic. Typically then, auctions are inefficient mechanisms. This paper presents the limitations and impracticability of the quasi‐ linearity assumption and proposes augmenting reverse auctions with negotiations. It shows that when the efficient frontier is concave, then it is possible to improve the winning bid through negotiations that follow auctions. The efficiency of this augmented mechanism is not lower than the re‐verse auctions’ efficiency.
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