Relationship preserving auction for repeated e-procurement

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dc.contributor.authorPark, Jong Hanko
dc.contributor.authorLee, Jae Kyuko
dc.contributor.authorHoongchuin Lauko
dc.date.accessioned2011-07-15T02:38:09Z-
dc.date.available2011-07-15T02:38:09Z-
dc.date.created2012-02-06-
dc.date.issued2008-08-19-
dc.identifier.citation10th International Conference on Electronic Commerce 2008, ICEC'08-
dc.identifier.urihttp://hdl.handle.net/10203/24631-
dc.description.abstractWhile e-procurement auction has helped firms to achieve lower procurement costs, auction mechanisms that prevail at present in procurement markets need to address an important issue that concerns the ability to maintain long term relationships with the partners, especially in repeated e-procurement settings. In this paper, we propose a Relationship Preserving Auction (RPA) mechanism that augments the conventional auction mechanism with a bidder relationship scoring model. Our proposed mechanism gives increased chances of winning to the bidders who have bidden at relatively competitive price but had comparatively less wins so far. Keeping these bidders in the auction over time will lead to more competitive bidding prices and eventually reduce the auctioneers total procurement cost in repeated auctions. From simulation experiments, we show how RPA works under different bidders behavior. We show that RPA is able to obtain lower procurement cost compared to conventional procurement auctions when bidders bid opportunistically and renege readily to other markets.-
dc.description.sponsorshipThis research is partially funded by the Singapore Agency for Science, Technology and Research (A*STAR) under grant number IMSS TSRP 052 116 0075.en
dc.languageEnglish-
dc.language.isoen_USen
dc.publisherICEC-
dc.titleRelationship preserving auction for repeated e-procurement-
dc.typeConference-
dc.identifier.scopusid2-s2.0-65449139166-
dc.type.rimsCONF-
dc.citation.publicationname10th International Conference on Electronic Commerce 2008, ICEC'08-
dc.identifier.conferencecountryAU-
dc.identifier.conferencelocationInnsbruck-
dc.embargo.liftdate9999-12-31-
dc.embargo.terms9999-12-31-
dc.contributor.localauthorLee, Jae Kyu-
dc.contributor.nonIdAuthorPark, Jong Han-
dc.contributor.nonIdAuthorHoongchuin Lau-

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