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The First Use of a Combined Value Auction for Transportation Services

Listed author(s):
  • Ledyard, John O.
  • Olson, Mark
  • Porter, David
  • Swanson, Joseph A.
  • Torma, David P.

Combined-value auctions (CVAs) allow participants to make an offer of a single amount for a collection of items. These auctions provide value to both buyers and sellers of goods or services in a number of environments, but they have rarely been implemented, perhaps because of lack of knowledge and experience. Sears Logistics Services (SLS) is the first procurer of trucking services to use a CVA to reduce its costs. In 1993, it saved 13 percent over past procurement practices. Experimental economics played a crucial role in the development, sale, and use of the CVA.
(This abstract was borrowed from another version of this item.)

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File URL: http://www.hss.caltech.edu/SSPapers/wp1093.pdf
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Paper provided by California Institute of Technology, Division of the Humanities and Social Sciences in its series Working Papers with number 1093.

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Length: 14 pages
Date of creation: Mar 2000
Publication status: Published:
Handle: RePEc:clt:sswopa:1093
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Web page: http://www.hss.caltech.edu/ss
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Order Information: Postal: Working Paper Assistant, Division of the Humanities and Social Sciences, 228-77, Caltech, Pasadena CA 91125
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