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Managing procurement auctions

Research output: Contribution to journalJournal article

Published
<mark>Journal publication date</mark>1990
<mark>Journal</mark>Information Economics and Policy
Issue number1
Volume4
Number of pages25
Pages (from-to)5-29
<mark>State</mark>Published
<mark>Original language</mark>English

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.