Seminar: A Simplified Two-attribute Procurement Auction – University of Copenhagen

Seminar: A Simplified Two-attribute Procurement Auction

Kurt Nielsen (IFRO): A Simplified Two-attribute Procurement Auction with Postponed Scoring

Abstract

This paper describes a two-attribute procurement auction that turns advance procurement auctions into posted prices using yardstick competition. The resulting yardstick bids is displayed to the principal that directly pick the most preferred yardstick bid as in a market with posted prices. The principal’s choice reveals boundaries on his underlying preferences, which are used to extract more information rent. The process requires no interaction and makes the procurement process very flexible and suitable for automated data-driven procurement.

Practical

The seminar is open to all.
You are welcome to bring you lunch.