Electronic auction markets collect large amounts of auction field data. This enables a structural estimation of the bid distributions and the possibility to derive optimal reserve prices. In this paper we propose a new approach to setting reserve prices. In contrast to traditional auction theory we use the buyer’s risk statement for getting a winning bid as a key criterion to set an optimal res...

This paper provides an optimal auction mechanism design for automated agents conducting auctions, for example, auction houses on the web. In particular, we consider auction protocols that include two major features; multi-attribute items and a deadline rule. Three different protocols were analyzed. For each protocol a mechanism was developed that enables the auctioneer agent to compose an optim...

In this work, we consider a multi-period inventory model with raw material procurements done via a reverse auction. Bids are multi-dimensional and they consist of supplier information of price, shortage quantity and lead time. This work is an extension of our earlier work that has integrated single-period inventory models with multidimensional procurement auctions to multi-period settings. The ...

E-procurement transactions in Business to Business (B2B) environment showed a constant and positive trend in the last years. The most popular methodologies to support these tools are all related to dedicated protocols able to facilitate the agreements among customers and suppliers. This chapter proposes a Multi Agent Architecture integrated with several multi-attribute auction mechanisms specif...

Methods of improving scalability in online auctions include limiting the number of bidding opportunities, providing price information to users, and recommending auctions that may be of interest to the users. We constructed an experimental prototype auction system in the context of reverse logistics for electronics products. Experiments were designed to test the effects of the number of trading ...

In this paper we extend the notion of multi-unit combinatorial reverse auction by adding a new dimension to the goods at auction. In such a new type of combinatorial auction a buyer can express transformability relationships among goods: some goods can be transformed into others at a transformation cost. Transformability relationships allow a buyer to introduce his information as to whether it ...

Online group-buying is one of the most innovative business models employed by many companies. From the perspective of buyers, quantity based discounts provide a huge incentive to form coalitions and take advantage of lower prices without ordering more than their actual demand. Traditional group-buying mechanisms are usually based on a single item and uniform cost sharing. One way to reduce the ...

In this paper we extend the notion of multi-unit combinatorial reverse auction by adding a new dimension to the goods at auction. In such a new type of combinatorial auction a buyer can express substitutability relationships among goods: some goods can be substituted with others at a substitution cost. Substitutability relationships allow a buyer to introduce his uncertainty as to whether it is...

Comparative studies of auction and negotiation exchange mechanisms are inconclusive. These studies have typically compared outcomes obtained from the two mechanisms. The question which this paper aims to address is the viability of outcome-based comparisons. Such comparisons assume that both mechanisms produce the same types of outcomes but their values differ. An argument can be made that this...