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An experimental investigation into the effects of information revelation in multi-attribute reverse auctions

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  • Kholekile Gwebu
  • Michael Hu
  • Murali Shanker

Abstract

Bid-takers in multi-attribute reverse auctions (MRA) are typically confronted with a myriad of information revelation options and must make decisions on which pieces of information to reveal to bidders and which ones to conceal. This study explores how the choice of different types and combinations of information can affect bidding behaviour and bidder perceptions in MRA. The results of a computer-based laboratory experiment suggest that by reducing the level of information asymmetry and using certain combinations of information a bid-taker can reduce bidder drop-out and spur the submission of high quality bids, i.e. bids that yield high levels of utility for the bid-taker.

Suggested Citation

  • Kholekile Gwebu & Michael Hu & Murali Shanker, 2012. "An experimental investigation into the effects of information revelation in multi-attribute reverse auctions," Behaviour and Information Technology, Taylor & Francis Journals, vol. 31(6), pages 631-644.
    • Handle: RePEc:taf:tbitxx:v:31:y:2012:i:6:p:631-644
    DOI: 10.1080/0144929X.2010.528028
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    Cited by:

    1. Banerjee, Simanti & Conte, Marc N., "undated". "Balancing Complexity and Rent-Seeking in Multi-Attribute Conservation Procurement Auctions: Evidence from a Laboratory Experiment," 2018 Allied Social Sciences Association (ASSA) Annual Meeting, January 5-7, 2018, Philadelphia, Pennsylvania 266293, Agricultural and Applied Economics Association.
    2. Zhijuan Hong & Ruhai Wu & Yan Sun & Kunxiang Dong, 2020. "Buyer preferences for auction pricing rules in online outsourcing markets: fixed price vs. open price," Electronic Markets, Springer;IIM University of St. Gallen, vol. 30(1), pages 163-179, March.
    3. Ahmetoglu, Gorkan & Furnham, Adrian & Fagan, Patrick, 2014. "Pricing practices: A critical review of their effects on consumer perceptions and behaviour," Journal of Retailing and Consumer Services, Elsevier, vol. 21(5), pages 696-707.
    4. Pham, Long & Teich, Jeffrey & Wallenius, Hannele & Wallenius, Jyrki, 2015. "Multi-attribute online reverse auctions: Recent research trends," European Journal of Operational Research, Elsevier, vol. 242(1), pages 1-9.
    5. Qian, Cheng & Anderson, Edward, 2020. "Buyer’s optimal information revelation strategy in procurement auctions," European Journal of Operational Research, Elsevier, vol. 283(3), pages 1011-1025.

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