NDLI: Procurement Sales with (Homogeneous and) Heterogeneous Goods

Content Provider	IEEE Xplore Digital Library
Author	Mayer, S.K. Louca, L.
Copyright Year	2013
Description	Author affiliation: Tech. Univ. Mυnchen, Munich, Germany (Mayer, S.K.; Louca, L.)
Abstract	Multi-sourcing is a common procurement practice, especially for key products with low total costs because of risk considerations. In this context often split award auctions are applied. We develop two different descending split award auctions where the auctioneer buys a bundle of four different products. Each of the items is bought through two lots each with different sizes to different bidders. Firstly, we set up these auction formats in an iterative setting and find that the communication complexity differs significantly. One format is the Reverse Combinatorial Clock (RCC) auction. Combinatorial auctions have been suggested as a mean to raise efficiency in multi-item negotiations with complementarities among goods as they can be found in procurement, energy markets, transportation and the sale of spectrum auctions. The second format is the simultaneous Yankee auction (SY) which is a variation of the simultaneous multi-round auction (SMRA). We perform simulations in different treatments and find out that the RCC results in a better efficiency and auctioneer costs in most cases, especially using a combination of straight forward and power set bidding strategies. We conclude, that even in environments with complementarities an efficient bidding language using the right auction format and rules, as the configuration of our SY auction, can result in almost as efficient outcomes as a combinatorial auction with the advantage of being computational tractable.
Starting Page	190
Ending Page	197
File Size	432278
Page Count	8
File Format	PDF
ISBN	9780769550725
DOI	10.1109/CBI.2013.35
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2013-07-15
Publisher Place	Austria
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Procurement multiple lots Barium Awards activities Electronic markets Production procurement auctions Resource management Contracts Clocks
Content Type	Text
Resource Type	Article

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

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