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The Optimal Bidding Strategies Research on Multi-attribute Reverse Auction Mechanism

In: Proceedings of 2013 4th International Asia Conference on Industrial Engineering and Management Innovation (IEMI2013)

Author

Listed:
  • Xiang-lin Pan

    (Wuhan University of Science and Technology)

  • Xu-hua Lv

    (Wuhan University of Science and Technology)

Abstract

In this paper, we mainly study the multi-attribute reverse auction mechanism with multiple winners. By the multi-attribute utility theory and the probability theory, we build a multi-attribute procurement model, which is more in line with reality procurement environment, and then prove the supplier’s optimal bidding strategies. Moreover, we compare it with the first scoring model and conclude that, the optimal quality bidding strategies remain constant, while the optimal price bidding strategy increases with the number of the successful bidders.

Suggested Citation

  • Xiang-lin Pan & Xu-hua Lv, 2014. "The Optimal Bidding Strategies Research on Multi-attribute Reverse Auction Mechanism," Springer Books, in: Ershi Qi & Jiang Shen & Runliang Dou (ed.), Proceedings of 2013 4th International Asia Conference on Industrial Engineering and Management Innovation (IEMI2013), edition 127, pages 217-223, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-40060-5_21
    DOI: 10.1007/978-3-642-40060-5_21
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    Cited by:

    1. Fuqiang Lu & Hualing Bi & Wenjing Feng & Yanli Hu & Suxin Wang & Xu Zhang, 2021. "A Two-Stage Auction Mechanism for 3PL Supplier Selection under Risk Aversion," Sustainability, MDPI, vol. 13(17), pages 1-17, August.

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