Multi-attribute bidding in electronic procurement: a laboratory study (extended abstract)
Recent advances in information technology facilitate the implementation of novel negotiation protocols between a buyer and multiple suppliers similar to “Request for Quote” processes. In these electronic multi-attribute procurement auctions, the buyer specifies her preference trade-offs among multiple attributes of an object including the price by revealing a scoring rule (Bichler 2001). During the auction, the buyer solicits multidimensional bids from invited suppliers. An auction institution designates the contract to the supplier who provides the highest overall utility score to the buyer. Despite first practical applications (Bichler 1999; Snir 2000), the design of multi-attribute auctions remains a challenge.
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