Title: An InverseOptimizationBased Auction Mechanism to Support a MultiAttribute Rfq Process Classic Reprint
Publisher: Forgotten Books
Publication Date: 2018
Language: English
ISBN 10: 0484461311
ISBN 13: 9780484461313
Binding: HRD
Condition: New
Weight: 394 grams

About this title

Synopsis

Learn how advanced auctions can drive smarter sourcing.

This book introduces a forward-looking approach to multi-attribute RFQs that helps buyers learn supplier costs and set fair, effective scoring rules.

In a practical guide grounded in auction theory, the author shows how inverse optimization can uncover how suppliers value non-price attributes. The work explains how a buyer can gradually reveal preferences, adjust scoring rules across rounds, and improve utility — all while maintaining a structured, transparent RFQ process. The discussion stays close to real-world procurement needs for single-item purchases and Internet-enabled markets.

Understand how multi-attribute auctions balance price with factors like lead time, quality, and supplier reputation.
See why learning suppliers’ cost functions matters and how it informs scoring rules.
Explore how round-by-round adjustments can maintain competitiveness without harming bidders.
Learn practical considerations for transitioning from traditional RFQs to dynamic, online procurement tools.

Ideal for readers involved in industrial procurement, sourcing strategy, or software design for e-marketplaces seeking a rigorous, implementable framework.

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