MAGIC Reverse Auction Bidders Training Guide
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A Fair and Secure Reverse Auction for Government Procurement
sustainability Article A Fair and Secure Reverse Auction for Government Procurement Chia-Chen Lin 1,*, Ya-Fen Chang 2, Chin-Chen Chang 3 and Yao-Zhu Zheng 4 1 Department of Computer Science and Information Engineering, National Chin-Yi University of Technology, Taichung 41170, Taiwan 2 Department of Computer Science and Information Engineering, National Taichung University of Science and Technology, Taichung 40401, Taiwan; [email protected] 3 Department of Information Engineering and Computer Science, Feng Chia University, Taichung 40724, Taiwan; [email protected] 4 Department of Computer Science, National Tsing Hua University, Hsinchu 30013, Taiwan; [email protected] * Correspondence: [email protected] Received: 21 August 2020; Accepted: 12 October 2020; Published: 16 October 2020 Abstract: With the development of e-commerce, the electronic auction is attracting the attention of many people. Many Internet companies, such as eBay and Yahoo!, have launched online auction systems. Many researchers have studied the security problems of electronic auction systems, but few of them are multi-attribute-based. In 2014, Shi proposed a provable secure, sealed-bid, and multi-attribute auction protocol based on the semi-honest model. We evaluated this protocol and found that it has some design weaknesses and is vulnerable to the illegal operations of buyers, which results in unfairness. In this paper, we improved this protocol by replacing the Paillier’s cryptosystem with the elliptic curve discrete (ECC), and we designed a novel, online, and multi-attribute reverse-auction system using the semi-honest model. In our system, sellers’ identities are not revealed to the buyers, and the buyers cannot conduct illegal operations that may compromise the fairness of the auction. -
Internet Auctions and Virtual Malls
Internet Auctions and Virtual Malls Is this Booklet Right for You? If you are a small business owner looking for alternatives to creating your own e-commerce website and want to sell online, then you will find this booklet useful. Even if you already have your own website, you can use this booklet to learn more about where you can sell (or buy) products and services online (e.g. Internet Auctions). You can also consider virtual malls or e-mall services where your site is listed along with others. E-malls are discussed later in this booklet. What is an Internet Auction? Internet auctions bring people and/or businesses together on Examples of Auction Websites one website to buy and sell • www.uBid.com (general auction site). products and services. Buying and selling processes vary • www.eBay.com (general auction site). across auction sites; so make • www.alibaba.com (general auction site). sure you familiarize yourself with these techniques by • www.bidville.com (general auction site). visiting these websites. • www.liquidation.com (commercial surplus inventory and government surplus assets – a wide variety of product categories). Most auction sites act as hosts for other businesses or individuals. • www.dovebid.com (global provider of capital asset auction, Generally the host of the website valuation, redeployment, and management services). organizes the site, provides • www.elance.com (focuses on services. You can search for a service product information, displays provider by category or post your project and receive proposals the product and processes from service providers). payments online. A fee is charged Sources: Index of the web.com www.indexoftheweb.com/Shopping/Auctions.htm to list the product or service and/ www.emarketservices.com, http://www.e-bc.ca/pages/resources/internet-auctions.php or a commission is taken on each completed sale. -
Auctioning One Item
Auctioning one item Tuomas Sandholm Computer Science Department Carnegie Mellon University Auctions • Methods for allocating goods, tasks, resources... • Participants: auctioneer, bidders • Enforced agreement between auctioneer & winning bidder(s) • Easily implementable e.g. over the Internet – Many existing Internet auction sites • Auction (selling item(s)): One seller, multiple buyers – E.g. selling a bull on eBay • Reverse auction (buying item(s)): One buyer, multiple sellers – E.g. procurement • We will discuss the theory in the context of auctions, but same theory applies to reverse auctions – at least in 1-item settings Auction settings • Private value : value of the good depends only on the agent’s own preferences – E.g. cake which is not resold or showed off • Common value : agent’s value of an item determined entirely by others’ values – E.g. treasury bills • Correlated value : agent’s value of an item depends partly on its own preferences & partly on others’ values for it – E.g. auctioning a transportation task when bidders can handle it or reauction it to others Auction protocols: All-pay • Protocol: Each bidder is free to raise his bid. When no bidder is willing to raise, the auction ends, and the highest bidder wins the item. All bidders have to pay their last bid • Strategy: Series of bids as a function of agent’s private value, his prior estimates of others’ valuations, and past bids • Best strategy: ? • In private value settings it can be computed (low bids) • Potentially long bidding process • Variations – Each agent pays only part of his highest bid – Each agent’s payment is a function of the highest bid of all agents • E.g. -
Annual Registration Fee $100
Auction Terms and Conditions Welcome to Capital City Auto Auction As a “Buyer” with Capital City Auto Auction (CCAA) you agree to be bound by the following Auction Terms and Conditions. CCAA may amend these terms and conditions at any time, without prior notice. Online Account: CCAA operates as an online auction. All searches, bidding and sale communications are made electro nically via the internet. Buyers must have computer access, an active email address, and register online at CapitalCityAutoAuction.Com with a unique username and password. Most items (Vehicle) at CCAA are donations, and are being sold by a charitable organization. CCAA has NO information regarding the condition or history of any Vehicle. NO physical or mechanical inspections have been performed by CCAA. Vehicles are NOT test driven; CCAA cannot verify drivability or attest to the condition, or soundness of the Vehicle, including but not limited to, the Powertrain, Drivetrain, Suspension, or Electrical Systems. CCAA provides a general description of each Vehicle; however, mechanical problems may be present which are not apparent, visible, or known by CCAA. CCAA is not responsible for the accuracy or incomplete descriptions of Vehicles. Conditions of Sale: All Vehicles sold at CCAA are sold "As-Is, Where-Is, With All Faults", With No Warranty, Expressed or Implied, Including But Not Limited To, Any Warranty of Fitness or Merchantability. Any and all information provided by CCAA in writing, verbally, or in image form pertaining to any auction item, including (when available) the Vehicle Identification Number and License Plate Number, is solely for the Buyer’s convenience. -
UNCITRAL Considers Electronic Reverse Auctions, As Comparative Public Procurement Comes of Age in the U.S
GW Law Faculty Publications & Other Works Faculty Scholarship 2005 UNCITRAL Considers Electronic Reverse Auctions, as Comparative Public Procurement Comes of Age in the U.S. Christopher R. Yukins George Washington University Law School, [email protected] Don Wallace Jr. Follow this and additional works at: https://scholarship.law.gwu.edu/faculty_publications Part of the Government Contracts Commons Recommended Citation Christopher R. Yukins & Don Wallace Jr., UNCITRAL Considers Electronic Reverse Auctions, as Comparative Public Procurement Comes of Age in the U.S., Pub. Procurement L. Rev. (2005). This Article is brought to you for free and open access by the Faculty Scholarship at Scholarly Commons. It has been accepted for inclusion in GW Law Faculty Publications & Other Works by an authorized administrator of Scholarly Commons. For more information, please contact [email protected]. UNCITRAL Considers Electronic Reverse Auctions, as Comparative Public Procurement Comes of Age in the U.S. Christopher R. Yukins Don Wallace, Jr.1 The United Nations Commission on International Trade Law (UNCITRAL) is revising the UNCITRAL Model Procurement Law, to reflect emerging practices in procurement. That effort, it is hoped, will yield real benefits for emerging nations that rely on the UNCITRAL model law to shape their procurement systems. In late January 2005, as part of that reform effort, the UNCITRAL Secretariat hosted a meeting of international experts in Vienna, Austria, to discuss how electronic auctions should be handled under the Model Law, and to assess the concomitant problem of unrealistically low pricing (known in the European system as "abnormally low bids"). In April 2005, an UNCITRAL working group of representatives from around the world met to develop proposed changes to the UNCITRAL Model Law.2 These efforts will, it is hoped, lead to 1 Christopher Yukins ([email protected]) is an associate professor of government contracts law at The George Washington University Law School, and Don Wallace, Jr. -
English and Vickrey Auctions
CHAPTER ONE English and Vickrey Auctions I describe a bit of the history of auctions, the two pairs of standard auction forms, and the ideas of dominance and strategic equivalence. 1.1 Auctions It is hard to imagine modern civilization without buying and selling, which make possible the division of labor and its consequent wealth (Smith, 1776). For many common and relatively inexpensive commodi ties, the usual and convenient practice at the retail level, in the West anyway, is simply for the seller to post a take-it-or-leave-it price, and for the prospective buyer to choose what to buy and where to buy it, perhaps shopping for favorable prices. I haven’t tried haggling over price at a Wal-Mart, but I can’t imagine it would get me very far. For some big-ticket items, however, like houses and cars, haggling and counteroffers are expected, even in polite society, and bargaining can be extended over many rounds. In some cultures, haggling is the rule for almost all purchases. A third possibility, our subject here, is the auction, where many prospective buyers compete for the opportunity to purchase items, either simultaneously, or over an extended period of time. The main attraction of the auction is that it can be used to sell things with more or less uncertain market value, like a tractor in a farmer’s estate, a manufacturer’s overrun of shampoo, or the final working copy of Beethoven’s score for his Ninth Symphony (see fig. 1.1). It thus promises to fetch as high a price as possible for the seller, while at the same time offering to the buyer the prospect of buying items at bargain prices, or perhaps buying items that would be difficult to buy in any other way. -
Reverse Auction in Pricing Model by Nagabhushan.S.V, Praveen Kulkarni, Dr.K.N
Global Journal of Computer Science and Technology Volume 12 Issue 7 Version 1.0 April 2012 Type: Double Blind Peer Reviewed International Research Journal Publisher: Global Journals Inc. (USA) Online ISSN: 0975-4172 & Print ISSN: 0975-4350 Reverse Auction in Pricing Model By Nagabhushan.S.V, Praveen kulkarni, Dr.K.N. Subramanya & Dr.G.N.Srinivasan R V College of Engineering Abstract - Dynamic price discrimination adjusts prices based on the option value of future sales, which varies with time and units available. This paper surveys the theoretical literature on dynamic price discrimination, and confronts the theories with new data from airline pricing behavior, Consider a multiple booking class airline-seat inventory control problem that relates to either a single flight leg or to multiple flight legs. During the time before the flight, the airline may face the problems of (1) what are the suitable prices for the opened booking classes, and (2) when to close those opened booking classes. This work deals with these two problems by only using the pricing policy. In this paper, a dynamic pricing model is developed in which the demand for tickets is modeled as a discrete time stochastic process. An important result of this work is that the strategy for the ticket booking policy can be reduced to sets of critical decision periods, which eliminates the need for large amounts of data storage. Keywords : Bidding, dynamic pricing, electronic markets, group-buying discounts, Internet based selling, market microstructure, online retailing, pricing mechanism. GJCST Classification: K.4.4 Reverse Auction in Pricing Model Strictly as per the compliance and regulations of: © 2012. -
REVERSE AUCTIONS: the WAY EVERYONE WINS the SIMPLE ECONOMICS of LIVE PRICING a White Paper by Scout RFP
REVERSE AUCTIONS: THE WAY EVERYONE WINS THE SIMPLE ECONOMICS OF LIVE PRICING a white paper by Scout RFP 1 EXECUTIVE SUMMARY Reverse auctions help organizations successfully realize cost-savings without sacrificing quality and supplier relations. For years, they have been a vital piece of the strategic sourcing suite. Despite this, many enterprises have yet to use reverse auctions to their greatest potential. In some cases, sourcing professionals haven’t explored the benefits of reverse auctions and as such have not embraced the methodology. Others have — often valid — concerns about the process. The reality, however, is that using reverse auctions for the right categories drives better business value. To better understand enterprise reverse auctions, we surveyed over 100 sourcing, procurement, and finance professionals from around the world. After compiling their experiences and opinions, we emerged with several conclusions about reverse auctions — from the business world’s perception of them to their wide-ranging capabilities. KEY TAKEAWAYS • Adoption of reverse auctions is rising. They’re most popular among A) large enterprises, both public and private, and B) Millennials and younger GenXers. • Reverse auctions make a bottom-line impact across the enterprise through their ability to increase the efficiency and efficiency of the sourcing department. • Enterprises that successfully run reverse auctions prioritize high quality for a good price, rather than automatically awarding to the lowest bidder. • Successful reverse auctions are run in a buyer’s market to source commodities, simple services, and other items with a low cost of changing. • Collaboration and transparency — two keys factors that contribute to a successful reverse auction — can only be achieved by running the auction through technology that adequately supports it. -
Seeding the Market: Auctioned Put Options for Certified Emission Reductions
policy brief NICHOLAS INSTITUTE FOR ENVIRONMENTAL POLICY SOLUTIONS NI PB 11-06 | August 2011 | nicholasinstitute.duke.edu Seeding the Market Auctioned Put Options for Certified Emission Reductions William A. Pizer, Sanford School of Public Policy and Nicholas Institute for Environmental Policy Solutions, Duke University This policy brief lays out arguments for the auctioned on underserved regions or the most desirable types of put option as a pay-for-performance mechanism that projects. The E.U., for example, is phasing out industrial would allow governments or philanthropic organiza- gas projects and focusing on projects only in the poorest tions to support and catalyze markets for greenhouse countries (Allen 2011; Twidale 2011). Alternatively, one gas emission reductions. The existing offset market, could focus on REDD+ credits, which are an important with its detailed methodologies for calculating emission area of interest for future emissions trading but are cur- reductions, offers tools that could be borrowed by such a rently excluded from virtually all trading systems. mechanism. Auctioned put options could target a subset of Clean Development Mechanism (CDM) projects— At the same time arguments are emerging for public segregated by type of project or country of origin—or an finance to support emission markets on the demand side, entirely different set of activities, such as REDD+.1 The public-sector fiscal constraints and an increasing focus key element is that there must be standardized rules (or on results are creating supply-side pressure. Pay-for- the promise of rules) detailing how emission reductions performance mechanisms allow governments to identify get counted and certified. -
Auctioning of EU ETS Phase II Allowances: How and Why? 137
Auctioning of EU ETS phase II allowances: how and why? 137 RESEARCH ARTICLE www.climatepolicy.com Auctioning of EU ETS phase II allowances: how and why? Cameron Hepburn1*, Michael Grubb2, Karsten Neuhoff 2, Felix Matthes3, Maximilien Tse4 1 St Hugh’s College, Environmental Change Institute and Department of Economics, St Margaret’s Road, Oxford OX2 6LE, UK 2 Faculty of Economics, Cambridge University, Sidgwick Avenue, Cambridge CB3 9DE, UK 3 Öko-Institut, Büro Berlin, Novalisstrasse 10, D-10115 Berlin, Germany 4 Nuffield College, New Road, Oxford OX1 1NF, UK Abstract The European Directive on the EU ETS allows governments to auction up to 10% of the allowances issued in phase II 2008–2012, without constraints being specified thereafter. This article reviews and extends the long- standing debate about auctioning, in which economists have generally supported and industries opposed a greater use of auctioning. The article clarifies the key issues by reviewing six ‘traditional’ considerations, examines several credible options for auction design, and then proposes some new issues relevant to auctioning. It is concluded that greater auctioning in aggregate need not increase adverse competitiveness impacts, and could in some respects alleviate them, particularly by supporting border-tax adjustments. Auctioning within the 10% limit might also be used to dampen price volatility during 2008–2012 and, in subsequent periods, it offers the prospect of supporting a long-term price signal to aid investor confidence. The former is only possible, however, if Member States are willing to coordinate their decision-making (though not revenue-raising) powers in defining and implementing the intended pricing mechanisms. -
“E-Reverse Auctions in Purchasing: the Problem of Designing an Appropriate E-Reverse Auction Solution”
“E-REVERSE AUCTIONS IN PURCHASING: THE PROBLEM OF DESIGNING AN APPROPRIATE E-REVERSE AUCTION SOLUTION” A study submitted in partial fulfilment of the requirements for the degree of Master of Science in Information Systems at THE UNIVERSITY OF SHEFFIELD by ANDREA LOESCH September 2003 i Abstract This dissertation aims to investigate e-reverse auctions in corporate purchasing. The research issue comprises the problem of how to design an appropriate e-reverse auction solution that meets the complex constraints of purchasing. In order to answer that question, a case study was carried out at a German software designer called Hybris. Interviews with both the CSO and the Manager for Technical Support and Training were conducted following the stages of Soft System Methodology (SSM). The revision of previous work suggests that e-reverse auctions are a valid tool for buyers to purchase goods from suppliers as they allow for great cost reductions. They may be applied to different purchasing situations, for instance private B2B exchanges or marketplaces. However, each application area requires its own functionality: The purchasing situation determines which people are involved in the e-reverse auction, what goods are purchased, and which processes need to be included. Regarding the technical environment of e-reverse auction software, the Internet provides a good basis for e-reverse auctions as it greatly reduces the transaction costs and allows to share and display remote data. In addition, technologies such as XML, CGI, and API enable the integration of the e- reverse auction tool with already existing information systems. The research findings correspond to the suggestions of the literature review: The e-reverse auction tool as suggested by Hybris does not only support the essential e-reverse auction processes. -
Bidding Agents in Online Auctions: What Are They Doing for the Principal? Gilbert Karuga University of Kansas
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by AIS Electronic Library (AISeL) Association for Information Systems AIS Electronic Library (AISeL) Americas Conference on Information Systems AMCIS 2004 Proceedings (AMCIS) December 2004 Bidding Agents in Online Auctions: What are they doing for the principal? Gilbert Karuga University of Kansas Sasidhar Maganti University of Kansas Follow this and additional works at: http://aisel.aisnet.org/amcis2004 Recommended Citation Karuga, Gilbert and Maganti, Sasidhar, "Bidding Agents in Online Auctions: What are they doing for the principal?" (2004). AMCIS 2004 Proceedings. 213. http://aisel.aisnet.org/amcis2004/213 This material is brought to you by the Americas Conference on Information Systems (AMCIS) at AIS Electronic Library (AISeL). It has been accepted for inclusion in AMCIS 2004 Proceedings by an authorized administrator of AIS Electronic Library (AISeL). For more information, please contact [email protected]. Karuga et al. Bidding Agents in Online Auctions Bidding Agents in Online Auctions: What are they doing for the principal? Gilbert Karuga Sasidhar Maganti Accounting and Information System Accounting and Information System School of Business School of Business University of Kansas University of Kansas [email protected] [email protected] ABSTRACT Online auctions were the most notable survivors of the ‘Internet Bubble Burst’ phenomenon that hit e-commerce related businesses at the turn of the millennium. With most online auctions lasting between 1 and 9 days, not all bidders have the time to monitor the progress of an auction for such long periods. In addition, many bidders in online auctions are new to the bidding game, leaving them at a disadvantage in the bidding process.