Bidding strategies and revenue analysis for reverse multi-attribute auction
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    Abstract:

    Reverse multi-attribute auction is increasingly becoming one main mechanism for e-procurement.Bidding strategies and auction revenue are key concerns of the auction participants. In this paper,sellers’bidding strategies and the expected revenue of the sellers and the buyers are given respectively for two typical reverse multi-attribute auction mechanisms: reverse multi-attribute English auction and reverse multi-attribute first-score sealed auction. The above results can provide decision support for auction participants. One important theorem of this paper is that auction expected revenue is equal among the above both typical reverse multiattribute auction mechanisms,multi-attribute second-score sealed-bid auction and multi-attribute Dutch auction.This conclusion is a further expansion of the expected revenue equivalence theorem in the field of multiattribute auction.

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  • Online: April 17,2018
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