Papers by Alexander Zaitsev
An Internet-based procedure for reverse auctions combining aspects of negotiations and auctions
Proceedings 11th International Workshop on Database and Expert Systems Applications
... cdu) Hannele Wallenius Helsinki University of Technology Department of Industrial Engineering... more ... cdu) Hannele Wallenius Helsinki University of Technology Department of Industrial Engineering and Management P. 0. Box 9500, 0201 5 HUT, Finland Jyrki Wallenius Helsinki School of Economics and Business Administration P. 0. Box 121 0, 001 01 Helsinki, Finland ...
NegotiAuction: An experimental study
Decision Support Systems, 2013
ABSTRACT We investigated and compared economic performance of auction, negotiation and hybrid mec... more ABSTRACT We investigated and compared economic performance of auction, negotiation and hybrid mechanisms of the NegotiAuction software. With the auction mechanism, bidders are required to submit bids consisting of quantity needed and other relevant non-price attributes, then they are returned with suggested prices to make them active. With the negotiation mechanism, the requested price button is turned off and the auction owner and the bidder are free to negotiate on one-on-one basis with other issues besides price and quantity. With the hybrid mechanism, characteristics of both negotiation and auction are combined. Twelve hypotheses involving economic performance measures were tested. On many measures, the hybrid mechanism was best for the auction owners.
We discuss design issues pertaining to multiple issue auctions in the WWW environment. Based on a... more We discuss design issues pertaining to multiple issue auctions in the WWW environment. Based on a critical evaluation of existing auctions, we propose NegotiAuction tm , an algorithmic Internet-based auction procedure, which combines certain elements of negotiations and auctions 1. It can be used either in reverse or forward auctions. When defining a multiple issue (multiple attribute) auction, the auction owner has more control over the bidding process than is possible in traditional auctions, signaling bid requirements to the bidders individually. This will result in a preferred set of auction winners. It is believed to reduce the total transaction time and eliminate the necessity of holding subsequent negotiations with the set of winners.
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Papers by Alexander Zaitsev