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Electronic Sourcing with Multi-attribute Auctions

Title data

Strecker, Stefan ; Seifert, Stefan:
Electronic Sourcing with Multi-attribute Auctions.
In: Proceedings of the 37th Hawaii International Conference on System Sciences (HICSS). - Big Island, Hawaii, USA , 2004
ISBN 0-7695-2056-1

Official URL: Volltext

Abstract in another language

Multi-attribute reverse auctions have been proposed as market institutions for “electronic request for quotation” buying processes. The choice of a multi-attribute auction institution for corporate sourcing is a challenge for the auctioneer in terms of utility maximization and allocational efficiency. The authors report on a computer-based laboratory experiment in a sole sourcing scenario of a single, indivisible object and investigate whether a multi-attribute reverse English and a multi-attribute reverse Vickrey auction institution lead to identical outcomes with respect to the buyer’s utility, suppliers’ profits and allocational efficiency. The results show no significant difference in suppliers’ profits. However, the English auction institution leads to both higher allocational efficiency and buyer’s utility and is thus recommendable to corporate buyers. The documented breakdown of the outcome equivalence of the two auction institutions is attributed to bidders deviating from the dominant bidding strategy. The deviations are analyzed and contradictory results are explained by learning effects.

Further data

Item Type: Article in a book
Refereed: Yes
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration XI > Chair Business Administration XI - Univ.-Prof. Dr. Stefan Seifert
Faculties
Faculties > Faculty of Law, Business and Economics
Faculties > Faculty of Law, Business and Economics > Department of Business Administration
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration XI
Result of work at the UBT: No
DDC Subjects: 300 Social sciences
300 Social sciences > 330 Economics
Date Deposited: 04 Aug 2015 07:33
Last Modified: 04 Aug 2015 07:33
URI: https://eref.uni-bayreuth.de/id/eprint/17494