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Research Details
Managing Procurement Auctions, Information Economics and Policy
Abstract
Three mechanisms are considered that extend the standard fixed quantity auction: (I) sole sourcing with output chosen in advance by a buyer with downward-sloping demand; (II) sole sourcing with an output schedule based on revelation of cost parameters; and (III) multiple sourcing with output allocation across suppliers based on revelation of cost parameters. Procedures are characterized for the sole sourcing and multiple sourcing problems that implement the buyer's optimal mechanism.
Type
Article
Author(s)
Sudipto Dasgupta, Daniel Spulber
Date Published
1989
Citations
Dasgupta, Sudipto, and Daniel Spulber. 1989. Managing Procurement Auctions. Information Economics and Policy.(1): 5-29.