Auctions and exchanges are one of the most important market mechanisms for price determination and allocation of goods. In this paper we consider the case when each buyer has a limited budget and wishes to buy at most one item in multi-item auctions. We show the limitations of two known mechanisms { sequence of single-item auctions and recently introduced XOR double auctions { and introduce a n...

With the increasing popularity of commercial uses of the Internet, business-to-business (B2B) ecommerce and e-procurement are moving corporate purchasing to the World Wide Web. Eprocurement systems are computer systems and communication networks through which firms buy and sell products. We identify two types of e-procurement systems: extranets and electronic markets. Extranets connect the buye...

Intellectual Property (IP) core used in computing system-on-chip provides a unique blend of yielding enhanced design productivity with reduced design cycle time. However, leveraging benefits of IP core require protection against threats from both seller’s and buyer’s perspective. This paper proposes a novel symmetrical IP core protectionmethodology that embeds a buyer fingerprint and seller wat...

This paper presents a vendor-buyer integrated inventory model. This paper considers the problem of a vendor and buyer integrated production inventory model for the vendor and the buyer optimization model under quality improvement investment and setup cost reduction in the production system such that the total profit is maximized. The relationship between demand and price is considered as a line...

We study the optimal mechanism in a dynamic sales relationship where the buyer’s arrival date is uncertain, and where his value changes stochastically over time. The buyer’s arrival date is the …rst date at which contracting is feasible and is his private information. To induce immediate participation, the buyer is granted positive expected rents even if his value at arrival is the lowest possi...

With globalize market, fast-changing technology and shortening product life cycle, businesses are becoming extremely competitive, and a cooperative buyer–supplier relationship is essential for a manufacturer, especially in technology-related industry, to survive and to acquire reasonable profit. Even though the research on various types of collaborations between firms is abundant, the research ...

This paper examines a symmetric first-price procurement auction in which one supplier is preferred by the buyer. Preference takes the form of a right-of-first-refusal which allows the preferred supplier to accept or reject the contract at the lowest bid of the other competing suppliers. We first characterize a strictly monotonic bidding function for the competing suppliers. We then show that th...

This paper derives the optimal production-shipment policy for a vendor-buyer integrated system with imperfect quality and an amending product delivery plan using an algebraic method. It is assumed that the system may randomly produce certain portion of nonconforming products during each production run. Quality assurance in terms of inspection and rework has been given effect to the defective it...

Economists have long recognized the importance of trust in trade and economic development, but few empirical studies address how trust is maintained and enhanced. We set up a rational expectation model that allows the marketplace to boost trust via buyer insurance or seller penalty. The model shows that buyer insurance will reduce seller trustworthiness in equilibrium because insurance increase...

In this research, an integrated supplier-buyer inventory system is studied when market demand is price-sensitive trapezoidal and units in inventory are subject to deterioration at a constant rate. The buyer has an option to choose between discount in unit price and delay in settling the account against the purchases made offered by the supplier. This type of trade credit is termed as ‘net credi...