DOCSLIB.ORG

Using Emptoris 8 Reverse Auction

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Using Emptoris 8 Reverse Auction Using Emptoris ® 8 Reverse Auction ® and Emptoris ® are registered trademarks of Emptoris, Inc. All other trademarks and registered trademarks are the property of their respective holders. Copyright © 2001-2009 by Emptoris, Inc. All Rights Reserved. Table of Contents Reverse Auction Getting Started ........................................................................................ 1 Reverse Auction Defining Bidding Rules......................................................................... 21 Reverse Auction Defining Items ....................................................................................... 29 Reverse Auction Defining Bid Fields ............................................................................... 53 Reverse Auction Inviting Suppliers .................................................................................. 67 Reverse Auction Defining Bid Transformations .............................................................. 83 Reverse Auction Defining the Auction Team ................................................................... 89 Reverse Auction Scheduling the Event ............................................................................. 97 Reverse Auction – Supplier Side View and Accept the Event ....................................... 109 Reverse Auction – Supplier Side Bidding on an Auction Event ................................... 125 Reverse Auction Monitoring the Event .......................................................................... 157 Reverse Auction Monitoring the Event – Special Actions ............................................. 173 Reverse Auction Analyzing the Results ......................................................................... 191 Reverse Auction Sending and Viewing Messages.......................................................... 209 Reverse Auction Running Auction Reports .................................................................... 223 Reverse Auction Attaching Files and Documents .......................................................... 253 This page intentionally left blank. Reverse Auction Getting Started Reverse Auction Getting Started Copyright ©2009 Emptoris, Inc 1 Reverse Auction Getting Started This page intentionally left blank Copyright ©2009 Emptoris, Inc 2 Reverse Auction Getting Started Reverse Auctions Sourcing/Procurement Lifecycle Project Management Buyer Survey Buyer Survey Sourcing Spend RFI RFQ Auction Analysis Analysis Contract Award RFP 9 Reverse auction – A reverse auction is an event within Emptoris Sourcing where buyers provide a list of items or services that need to be sourced, and allow potential suppliers to submit bids for these items or services. The goal is to achieve the lowest possible price for the item. There are various types of Reverse auctions including: English – The items are open for bid and suppliers compete by reducing their bids for each selected item. The suppliers lower their price with each successive bid. The item is awarded to the supplier with the lowest bid. Dutch – the items are open for bid with a “low” price visible to the Suppliers and the Buyer increases the price until a Supplier accepts the price and “bids” to supply the item at the displayed price. Japanese – the items are open at a given price and all bidders must bid for the item. As the price is reduced, bidders must drop out or bid at each level to remain in the running for the featured item. The auction continues until only one bidder remains. Note : Forward auction - A forward auction is an event within Emptoris Sourcing where a buyer can sell items to the suppliers. Here, Starting Price refers to the lowest price and the suppliers have to bid the price up. The goal is for the buyer to achieve the highest price for the item. Forward auctions can be the same types as described above but the bidding goes in the other direction. Copyright ©2009 Emptoris, Inc 3 Reverse Auction Getting Started Module Objectives After completing this module, you should be able to: • Create a Reverse Auction Event • Define the Basic Information • Define the Bidding Rules • Identify the Items • Select the Suppliers • Select the Internal Buyer Team • Schedule the Event • Respond as a Supplier • Monitor the Open event • Analyze the results Getting started means: Creating the event Defining basic information Selecting the currencies Setting the currency exchange rates Copyright ©2009 Emptoris, Inc 4 Reverse Auction Getting Started Create the Auction Event Follow the steps below to create an Auction Event: 1. Click the Create RFx button on the toolbar. The Create RFx dialog box is displayed. Copyright ©2009 Emptoris, Inc 5 Reverse Auction Getting Started Create the Auction Event The create dialog box allows different ways to create an Auction. You can create an Auction from: “scratch”, entering all of the item and event details a Template; saved from a previous event an Excel spreadsheet (Import) a previous RFQ and RFP. – The data from the RFx will be transferred to the Auction event. This includes the suppliers’ lowest bids. These will become the suppliers’ opening bids. For this example, we will create the event from “scratch”. Follow the steps below to create an Auction Event: 2. Click the Create New RFx button. The Basic Information dialog box is displayed Copyright ©2009 Emptoris, Inc 6 Reverse Auction Getting Started Defining Basic Information Follow the steps below to create an Auction Event: 3. Select the event Type from the drop-down menu. Select Reverse Auction from the list. Copyright ©2009 Emptoris, Inc 7 Reverse Auction Getting Started Defining Basic Information , continued Follow the steps below to create an Auction Event: 4. When selecting a Reverse Auction, an additional field is displayed for the Style fo the Auction. Select the Style from the drop down menu. For this example, we select the English Auction Style . Copyright ©2009 Emptoris, Inc 8 Reverse Auction Getting Started Defining Basic Information , continued Follow the steps below to create an Auction Event: 5. Enter the Name for the Event. This should be something recognizable by your suppliers. The name is used in most correspondence about the event. 6. Enter a Unique ID . This value is used by the system to store and retrieve the event information. It must be unique from all other events of any type. 7. Enter a brief Description . This is displayed when a supplier or other team member requests additional information about the event. Copyright ©2009 Emptoris, Inc 9 Reverse Auction Getting Started Defining Basic Information , continued Follow the steps below to create an Auction Event: 8. Enter the internal Business Unit associated with the event if you are using Business Units within your organization. 9. Enter the Currency Decimal Places . The Currency Decimal Places apply to ALL currencies that are part of the event. These are used during the entry of values, not during conversion calculations between currencies. 10. Identify if this event is For Test Use . (See the note below for an example and explanation). 11. Click Save to create the event. The Basic Information dialog box is displayed along with the Reverse Auction Wizard menu. Copyright ©2009 Emptoris, Inc 10 Reverse Auction Getting Started For Test Use Item Events may be launched to test the setting and details. Clicking the No radio button will eliminate these from the reports. Copyright ©2009 Emptoris, Inc 11 Reverse Auction Getting Started Reverse Auction Wizard Menu The Reverse Auction Wizard lists the steps that are executed to create the event. The steps will guide you through the process for creating the Auction event. Your current position in the list is highlighted. You can collapse and expand the list by clicking the Show All/Basic Steps option at the top of the list. Note : Items that are “grayed out” cannot be accessed until other information is defined. For example, when you initially create the event, the Schedule item is gray. You can’t schedule the event until all prerequisite information is created. Copyright ©2009 Emptoris, Inc 12 Reverse Auction Getting Started Reverse Auction Wizard Menu The Emptoris system supports multiple currencies. The Host chooses a primary currency and other currencies for the event. Currency values are displayed to buyers and suppliers in the primary currency of the event. A buyer can specify one or more currencies in which a supplier can make a bid. If the buyer specifies more than one currency, the supplier will be able to select the currency from a drop down list. The bidding currencies need to be defined and the exchange rates established. Follow the steps below to set currency values: 1. Click the Bidding Currencies item. The Manage Available Currencies dialog box is displayed. Copyright ©2009 Emptoris, Inc 13 Reverse Auction Getting Started Defining Currency Values Follow the steps below to set currency values: 2. Click the Currency item on the left side list (Scroll to display all available currencies). The item is highlighted. 3. Click the Right Arrow button to add the highlighted currency to the event. The currency is displayed in the Selected Items right side list. Copyright ©2009 Emptoris, Inc 14 Reverse Auction Getting Started Defining Currency Values Follow the steps below to set currency values: 4. Continue selecting currencies that are used within the event. 5. Change the default Primary Currency if needed. 6. Click Save when done. Copyright ©2009 Emptoris, Inc 15 Reverse Auction Getting Started Defining Currency Exchange Rates
Load more

Recommended publications
  • Common-Value Auctions with Liquidity Needs: an Experimental
    Common­Value Auctions with Liquidity Needs: An Experimental Test of a Troubled Assets Reverse Auction Lawrence M. Ausubel, Peter Cramton, Emel Filiz‐Ozbay, Nathaniel Higgins, Erkut Ozbay, and Andrew Stocking* 21 May 2009 Abstract We experimentally test alternative auction designs suitable for pricing and removing troubled assets from banks’ balance sheets as part of the financial rescue. Many individual securities or pools of securities are auctioned simultaneously. Securities that are widely held are purchased in auctions for individual securities. Securities with concentrated ownership are purchased as pools of related securities. Each bank has private information about its liquidity need and the true common value of each security. We study bidding behavior and performance of sealed‐ bid uniform‐price auctions and dynamic clock auctions. The clock and sealed‐bid auctions resulted in similar prices. However, the clock auctions resulted in substantially higher bank payoffs, since the dynamic auction enabled the banks to better manage their liquidity needs. The clock auctions also reduced bidder error. The experiments demonstrated the feasibility of quickly implementing simple and effective auction designs to help resolve the crisis. (JEL D44, C92, G01, G21. Keywords: financial crisis, uniform‐price auction, clock auction, market design, experiments, troubled assets, TARP.) 1 Introduction On 3 October 2008, the US Congress passed and the President signed the Emergency Economic Stabilization Act of 2008 (Public Law 110‐343). The Act established the $700 billion Troubled Asset Relief Program (TARP). It authorized the US Treasury to purchase troubled assets in order to restore liquidity to financial markets, favoring. the use of market mechanisms such as reverse auctions for asset purchases.
    [Show full text]
  • Spectrum Auctions from the Perspective of Matching
    Spectrum Auctions from the Perspective of Matching Paul Milgrom and Andrew Vogt May 5, 2021 1 Introduction In July 1994, the United States Federal Communications Commission (FCC) conducted the first economist-designed auction for radio spectrum licenses. In the years since, governments worldwide have come to rely on auction mecha- nisms to allocate { and reallocate { rights to use electromagnetic frequencies. Over the same period, novel uses for spectrum have dramatically increased both the demand for licenses and auction prices, drawing continued attention to the nuances of spectrum markets and driving the development of spectrum auction design. In August 2017, the FCC completed the Broadcast Incentive Auction, a two-sided repurposing of an endogenously-determined quantity of spectrum that ranks among the most complex feats of economic engineering ever under- taken. The next generations of mobile telecommunications are poised to extend this growth, and to demand further innovation in the markets and algorithms that are used to assign spectrum licenses. What does all of this have to do with matching theory? Spectrum auctions differ from canonical matching problems in meaningful ways. Market designers often emphasize that a key element of matching markets is the presence of preferences on both sides of the market. In a marriage, for example, it is not enough that you choose your spouse; your spouse must also choose you. This two-sided choice structure applies also to matches between students and schools and between firms and workers, but not to matches between telecommunications companies and radio spectrum licenses. It is a different matching element that is often critically important in ra- dio spectrum auctions.
    [Show full text]
  • Forward Auction Bidding System User Guide Disclaimer
    FCC Incentive Auction Forward Auction Clock Phase Bidding System USER GUIDE Last updated: July 22, 2016 Forward Auction Bidding System User Guide Disclaimer DISCLAIMER The Federal Communications Commission (the “Commission”) will make available a web-based Auction System for incentive auction bidding purposes. The Commission makes no warranty whatsoever with respect to the Auction System. In no event shall the Commission, or any of its officers, employees or agents, be liable for any damages whatsoever (including, but not limited to, loss of business profits, business interruption, loss of business information, or any other loss) arising out of, or relating to the existence, furnishing, functioning or use of the Auction System that is accessible to bidders in connection with this auction. Moreover, no obligation or liability will arise out of the Commission’s technical, programming or other advice or service provided in connection with the Auction System. The examples that appear in this document are based on fictitious data and do not represent the actual data for this auction. Additionally, they do not reflect any predictions or assumptions about the actual bidding in the auction, the number of rounds, or the outcome of the auction. Any similarity to actual company names, PINs, FCC Registration Numbers (FRNs), or other personal information is coincidental. COPYRIGHT NOTICE Copyright © 2005–2016 by Power Auctions LLC. The software service makes use of proprietary technology protected by US Patent Numbers 7,062,461; 7,165,046; 7,343,342; 7,467,111; 7,870,050; 7,899,734; 7,966,247; 8,447,662; and 8,762,222.
    [Show full text]
  • A Primer on Auction Design, Management, and Strategy∗
    A Primer on Auction Design, Management, and Strategy∗ David J. Salant TSE 31000 Toulouse December 23, 2013 DRAFT 2 Contents 1 Introduction 11 1.1 Goals of this Primer . 11 1.2 What are Auctions? . 14 1.2.1 Why Auctions? . 16 1.2.2 Types of Auctions . 17 1.3 A New Age of Auctions . 19 1.3.1 New Types of Auctions . 20 1.3.2 Auctions Replacing Regulation . 22 1.3.3 Auctions in the Private Sector . 24 1.4 Why Auction Design (and Management) Matters . 25 1.5 Outline of This Primer . 27 2 Game Theory, Auction Design, and Strategy 29 2.1 Game Theory and Auctions . 29 2.2 Noncooperative Games . 30 2.2.1 One-Shot Auctions . 30 3 4 CONTENTS 2.2.2 Normal Form Games . 31 2.2.3 Equilibrium in Normal Form Games . 32 2.2.4 Mixed Equilibrium in Spectrum Auctions: Some Ex- amples . 33 2.2.5 Equilibrium in Multi-attribute Auctions . 34 2.3 Multi-stage and Sequential Auctions . 36 2.3.1 Subgame Perfect Equilibrium . 36 2.3.2 Signaling Games . 38 2.4 Repeated Games . 39 2.4.1 Finitely Repeated Games . 40 2.4.2 Infinitely Repeated Games . 41 2.4.3 Overlapping Generations of Players . 42 2.5 Summary . 42 3 Revenue Equivalence 45 3.1 The Four Basic Auction Types for Single-Object Auctions . 45 3.2 Auction Strategy in the Four Basic Auction Types . 47 3.3 Strategic Equivalence . 48 3.4 Revenue Equivalence of English and Dutch Auctions . 51 3.5 Summary .
    [Show full text]
  • Online Reverse Auctions: an Overview
    Journal of International Technology and Information Management Volume 13 Issue 4 Article 5 2004 Online Reverse Auctions: An Overview Ching-Chung Kuo University of North Texas Pamela Rogers University of North Texas Richard E. White University of North Texas Follow this and additional works at: https://scholarworks.lib.csusb.edu/jitim Part of the Business Intelligence Commons, E-Commerce Commons, Management Information Systems Commons, Management Sciences and Quantitative Methods Commons, Operational Research Commons, and the Technology and Innovation Commons Recommended Citation Kuo, Ching-Chung; Rogers, Pamela; and White, Richard E. (2004) "Online Reverse Auctions: An Overview," Journal of International Technology and Information Management: Vol. 13 : Iss. 4 , Article 5. Available at: https://scholarworks.lib.csusb.edu/jitim/vol13/iss4/5 This Article is brought to you for free and open access by CSUSB ScholarWorks. It has been accepted for inclusion in Journal of International Technology and Information Management by an authorized editor of CSUSB ScholarWorks. For more information, please contact [email protected]. Online Reverse Auctions: An Overview Journal of International Technology and Information Management Online Reverse Auctions: An Overview Ching-Chung Kuo Pamela Rogers Richard E. White University of North Texas ABSTRACT Electronic commerce (e-commerce) is the fastest growing area in the U.S. economy with electronic procurement (e-procurement) being a major component, and online reverse auctions (ORAs) have emerged as a key e-procurement tool. Since the mid-1990s, ORAs have been gaining in popularity because of their potentially significant positive impact on the profitability of both the buyers and the sellers. Much has been written about the new purchasing paradigm and numerous stories have been reported recently.
    [Show full text]
  • Designing Centralized Markets with Privately Informed Buyers and Sellers∗
    A Long Way Coming: Designing Centralized Markets with Privately Informed Buyers and Sellers∗ Simon Loertscher† Leslie M. Marx‡ Tom Wilkening§ May 1, 2013 Abstract We discuss the economics literature relevant to the appropriate design of centralized market mechanisms for environments where both buyers and sellers have private informa- tion, as is, for example, the case in the “incentive auction” for radio spectrum license that the FCC has been mandated to run. These two-sided problems are markedly different from their one-sided counterparts where private information pertains to buyers only: a) efficient mechanisms do not generate positive revenue, b) maximal revenue extraction has higher opportunity cost, c) incorporating the sale of assets owned by the mechanism designer may improve outcomes, d) arguments for open designs based on the linkage principle are less compelling, e) the structure of the trading network/matching may be more important than issues of substitutes and complements, and f) the loss of welfare plus revenue from excluding a strong buyer can be greater. Because economists designing two-sided markets will rely in part on intuition gained from one-sided markets, an understanding of these differences can be important. We also consider the practical implications for implementation and avenues for future research. Keywords: FCC, spectrum license auction, incentive auction, mechanism design JEL-Classification: C72, D44, D61 ∗The first and third author thank the Department of Treasury and Finance of Victoria and the Australian Communications and Media Authority for helpful discussions that led to the development of the ideas for this paper. We thank Evan Kwerel, Jonathan Levy, Martha Stancill, and John Williams for their extremely valuable input.
    [Show full text]
  • Reverse Auction Bidding: an Analysis of Case Study for Bid
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Texas A&M Repository REVERSE AUCTION BIDDING: AN ANALYSIS OF CASE STUDY FOR BID TIMING A Thesis by APOORV KUMAR Submitted to the Office of Graduate and Professional Studies of Texas A&M University in partial fulfillment of the requirements for the degree of MASTER OF SCIENCE Chair of Committee, John M. Nichols Committee Members, Edelmiro F. Escamilla John A. Walewski Head of Department, Joseph P. Horlen August 2014 Major Subject: Construction Management Copyright 2014 Apoorv Kumar ABSTRACT Reverse Auction Bidding is utilized by a significant number of enterprises for supply of materials and in part construction. This thesis investigates aspects of the Reverse Auction system using the web site developed by others to continue the work on understanding aspects of the impact of human personality types on the bidding results for a standard game. A game theory was developed for the Reverse Auction Bidding framework used at TAMU to study the results of the bids collected in a standard game. This theory postulated two sub-games exist inside the main Reverse Auction Bidding game. The main sub-game is between the buyer and the set of bidders. The second sub-game is between the bidders. The theory exists that the buyer seeks minimal costs, which must be acknowledged as prima facie correct for this study. Extent studies at TAMU have indicated that the costs distribution is non-Gaussian, indicating that the buyer’s objective is not achieved for all bidders. The second sub-game is between the bidders, they utilize the non-Gaussian component of the profit distribution to amplify individual returns.
    [Show full text]
  • (28 Ghz) and Auction 102 (24 Ghz) Public Notice – AU Docket No
    March 27, 2018 FCC FACT SHEET* Spectrum Frontiers Auction 101 (28 GHz) and Auction 102 (24 GHz) Public Notice – AU Docket No. 18-85 Background: The FCC has established rules for Upper Microwave Flexible Use Service (UMFUS) licenses in several spectrum bands above 24 GHz to promote the development of fifth-generation wireless, the Internet of Things, and other advanced spectrum-based services for the benefit of the public. This Public Notice would propose application and bidding procedures for the auctions of UMFUS licenses in two of these bands – 28 GHz (27.5–28.35 GHz) and 24 GHz (24.25–24.45 and 24.75–25.25 GHz). The 1.55 gigahertz of spectrum available in these auctions will be licensed on a geographic area basis as established by prior Commission actions, with 28 GHz licenses offered in two 425-megahertz blocks by county and 24 GHz licenses offered in seven 100-megahertz blocks by Partial Economic Area (PEA). What the Public Notice Would Do: • Propose to offer the UMFUS licenses through two separate auctions: o The auction of the 28 GHz band (Auction 101) would employ the Commission’s standard simultaneous multiple-round (SMR) auction format. This format offers every license for bid at the same time and consists of successive bidding rounds in which bidders may place bids on individual licenses. o The auction of the 24 GHz band (Auction 102) would employ a clock auction format, which would allow bidding on generic blocks in each Partial Economic Area in successive clock bidding rounds. Also propose procedures for the assignment phase that would allow bidding for frequency-specific license assignments, while ensuring contiguous block assignments.
    [Show full text]
  • PUBLIC NOTICE Federal Communications Commission News Media Information 202 / 418-0500 Th Internet: 445 12 St., S.W
    PUBLIC NOTICE Federal Communications Commission News Media Information 202 / 418-0500 th Internet: http://www.fcc.gov 445 12 St., S.W. TTY: 1-888-835-5322 Washington, D.C. 20554 DA 15-1183 APPLICATION PROCEDURES FOR BROADCAST INCENTIVE AUCTION SCHEDULED TO BEGIN ON MARCH 29, 2016 TECHNICAL FORMULAS FOR COMPETITIVE BIDDING AU Docket No. 14-252 GN Docket No. 12-268 WT Docket No. 12-269 Released: October 15, 2015 TABLE OF CONTENTS Heading Paragraph # I. GENERAL INFORMATION ................................................................................................................ 1 A. Introduction...................................................................................................................................... 1 B. Background of Proceeding............................................................................................................... 3 II. APPLYING TO PARTICIPATE IN THE REVERSE AUCTION........................................................ 5 A. Applicable Rules and Disclaimers ................................................................................................... 6 1. Relevant Authority .................................................................................................................... 6 2. Due Diligence............................................................................................................................ 9 3. Red Light Rule ........................................................................................................................ 11 4. Use
    [Show full text]
  • Computer Science Optimization of Reverse Auctions
    Bachelor Thesis Project Computer Science Optimization Of Reverse Auctions Author: Athmar Mubark Supervisor: Anders Haggren Semester: VT/HT 2017 Subject: Computer Science Abstract Many people still confuse and misunderstand the differences between auction types. In fact, we have only two major types of auctions which are forward auction and reverse auction [22]. In a forward auction a single seller offers an item to sale with many competitive buyers driving the price upward. In a Reverse Auction, a single buyer wants to purchase a service or an item from many sellers, they drive the price downward. There are many differences between these types of auctions. Including the progress of the auctions, winner selection criterion and other factors. The Reverse Auction nowadays is one of the most preferred types of online auctions. It gains popularity rapidly because of representing the buyers’ side and helps him to drive prices down in contrary with forward auction or traditional auction. The aim of this study is to identify the most common types of the reverse auctions and compare them to one another to determine when they should be used by a buyer and propose the most efficient implementation model for some types. The results of this study are: achieve a written report and a small demonstrator model on how to implement English auction and second-sealed bid auction. Keywords: reverse auction, electronic auction, e-auction, e-procurement, online auction, buyer, seller, purchaser, bidding, Reverse English Auction, Reverse Yankee Auction, Reverse Dutch Auction, Reverse Japanese Auction, Reverse Sealed bid Auction, Reverse Vickrey Auction. 2 Preface To my Father & my Mother Who taught me to never give up.
    [Show full text]
  • Developing Agricultural Commodity Markets Through a Better Trading Platform
    Developing Agricultural Commodity Markets Through a Better Trading Platform 13th Annual Farmer Cooperatives Conference Cooperatives: Looking Forward December 6-7, 2010 Brad Miller, Vice President Practice Leader of Auctions & Competitive Bidding A Better Market Mechanism for Agricultural Commodities Overview Market design Implementation – a case study Results The future 1 Copyright © CRA International. All Rights Reserved. Market Design Challenges • Challenges for all market participants – Negotiations are time-consuming and costly – Parties wonder if they got the best deal – Limited ability to manage risk and uncertainty – Information and transaction costs are too high • Challenges for coops and its members – Need price transparency and reliable price signals – Need credible information about current and future market conditions – Need to manage price and quantity volatility – Coops must continually demonstrate value to members 2 Copyright © CRA International. All Rights Reserved. Market Design Advantages of well-designed, structured bidding mechanisms • Can be designed to best meet the needs of both buyers and sellers • Ability to achieve various goals • Fair, open, transparent, objective, non-discriminatory, quick process • Minimizes information and transaction costs • Effective price discovery mechanism and quantity allocation • Maximizes participants’ interest and participation • Those who value the product the most will win, optimizing prices and revenue • Win-win for both buyers and sellers – No regrets, no complaints – Can use resources better, administer contracts more efficiently, make better planning decisions – Value pie is made larger 3 Copyright © CRA International. All Rights Reserved. Market Design How do you design the market mechanism? • Confirm the objectives • Define the products, draft the contracts – Substitutes vs. complements – Common value vs. private value • Identify the participants – Few vs.
    [Show full text]
  • Auctions, Bidding and Exchange Design
    Auctions, Bidding and Exchange Design The Harvard community has made this article openly available. Please share how this access benefits you. Your story matters Citation Kalagnanam, Jayant, and David C. Parkes. 2004. Auctions, bidding and exchange design. In Handbook of Quantitative Supply Chain Analysis: Modeling in the E-Business Era, ed. D. Simchi-Levi, S. D. Wu, Z. Shen, 143-212. Boston: Kluwer. Citable link http://nrs.harvard.edu/urn-3:HUL.InstRepos:4045845 Terms of Use This article was downloaded from Harvard University’s DASH repository, and is made available under the terms and conditions applicable to Other Posted Material, as set forth at http:// nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of- use#LAA ¢¡¤£¦¥¨§ © "!#!$ % &'! (*)+,'&%$( !#(-.%# /103210541687905:;05<14=054=05> ?A@"BDC EGFGEIHKJILNMPOQSRTQSFUQWVKX Y Z\[]ZU^_Ha`bFNVaXcC EGFGEIHaJILUMedfEGX3`;EGJUg h Zji"Z @kVmlonqparsg tuVKJUvm`jVawxX_y¦EGQ zsM]`bFIg {|t}p~aar WAUTU ;5NI m 0fj=¦0K ¡ OQ\RQSFUQWVKX¤VI¢£¤XzaQSX¥EEGJNQSXzcHaXu¦¨§"©a©ª QWEI¦c«¥LTQWEGXuLUEGFIg y¬HKJGRmHKJI¦9­®X3QSRsENJGFUQS`b¯g d Ha°²±GJNQW¦TzqE¬B_§¢~Kn]pK³r NµS¶¸·;u··I ¹GNµ»ºGNµ½¼a ·¼K ´ Abstract The different auction types are outlined using a classification framework along six dimensions. The economic properties that are desired in the design of auc- tion mechanisms and the complexities that arise in their implementation are dis- cussed. Some of the most interesting designs from the literature are analyzed in detail to establish known results and to identify the emerging research directions. ¾À¿ Á ÂoÃxÄxÅ_ƤÇȤÃxÉTÅP Auctions have found widespread use in the last few years as a technique for supporting and automating negotiations on the Internet.
    [Show full text]