Procurement is one of the major activities in the Manufacturing Resource Planning (MRP II), which is closely coupled with inventory management. Any improvement in this area will have a direct impact on the performance of the entire supply chain. Auction mechanism can be a successful procurement method when there are several potential suppliers available. In this work we consider a single-period...

Auctions have been getting increasing attention in computer science and economics, as they provide an efficient solution to resource allocation problems with self-interested agents. E-Commerce and finance have emerged as some of their largest application fields. The need for new auction mechanisms that allow complex bids such as bundle or multi-attribute bids has been raised in many situations....

We study a reverse auction in which a buyer procures a single unit of good or service (such as a contract) from one of many competing sellers through auctions. Sellers have independent and identically distributed costs. Under certain conditions, we show the multiplicity of the symmetric equilibrium bidding strategies in the first-price reverse auction, contrasting with the well-known uniqueness...

We consider a multi-attribute outsourcing economy where both price and delivery date are relevant decision factors. In the economy, there is an Original Equipment Manufacturer (OEM) who needs multiple items to be delivered on the predetermined delivery dates and suppliers who are capable of delivering some or all of the items. We first show that there exists a competitive equilibrium in this ec...

Fu-Shiung Hsieh # Department of Computer Science and Information Engineering, Chaoyang University of Technology Taiwan, R.O.C. [email protected] Abstract—We formulate group buying problem as a combinatorial reverse auction problem with multiple buyers and multiple sellers. We propose the concept of proxy buyer to deal with this problem. The proxy buyer consolidates the demands from the buyers...

M auctions extend traditional auction settings to allow negotiation over nonprice attributes such as weight, color, and terms of delivery, in addition to price and promise to improve market efficiency in markets with configurable goods. This paper provides an iterative auction design for an important special case of the multiattribute allocation problem with special (preferential independent) a...

During the past few years, auctions have become popular in conducting trade negotiations on the Internet. The design of new auctions and other negotiation protocols has become an important topic for both, industry and academia. Traditional auction mechanisms allow price-only negotiations for which the winner determination is a computationally simple task. However, the need for new auction mecha...