Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
482338 | European Journal of Operational Research | 2006 | 11 Pages |
Abstract
We describe a multi-attribute e-auction mechanism, with a focus on its theoretical foundations. Our mechanism is designed for auctioning multiple units of a good, primarily in B2B transactions. It can be used in various types of forward and reverse auctions/RFQs (Request for Quote), although the emphasis in this paper is on procurement. To incorporate the auction owner’s preferences across issues/attributes in an auction/negotiation setting, we adopt a novel application of the ‘pricing out’ technique. Another key feature of our mechanism is the optimization-based ‘suggested price’ decision support component, which momentarily gives the best price acceptable to the buyer.
Related Topics
Physical Sciences and Engineering
Computer Science
Computer Science (General)
Authors
Jeffrey E. Teich, Hannele Wallenius, Jyrki Wallenius, Alexander Zaitsev,