An interactive approach for Bi-attribute multi-item auctions

An interactive approach for Bi-attribute multi-item auctions

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Article ID: iaor20163527
Volume: 245
Issue: 1
Start Page Number: 97
End Page Number: 119
Publication Date: Oct 2016
Journal: Annals of Operations Research
Authors: ,
Keywords: decision: applications, e-commerce, internet, decision theory: multiple criteria, heuristics
Abstract:

The advances in the technological infrastructure and in the Internet led electronic auctions to become popular. With online sites, people buy/sell inexpensive products/services through auctions. In this paper, we develop an interactive approach that provides aid to both the buyer and the bidders in a bi‐attribute, multi‐item auction environment. Our approach is applicable for both reverse and forward auctions. We test our approach for underlying linear preference functions of the buyer. We also adapt it as a heuristic for the case the buyer has a nonlinear preference function. The test results show that our approach works well.

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