Sinopsis
Excerpt from An Inverse-Optimization-Based Auction Mechanism to Support a Multi-Attribute Rfq Process
To engage bidders in a multi - attribute auction, an auctioneer needs to provide the bidders with some information pertaining to how he values the non-price attributes. While several rather obtuse approaches are possible the auctioneer could provide shadow prices from a mathematical program without revealing the mathematical program), the predominant approach in hpo practice and the one favored by most bidders because of its straightforward nature is for the auctioneer to announce a scoring rule in terms of the bid price and various attributes. This scoring rule may, or may not, be identical to the auctioneer's true utility function; indeed, this is the crux of the strategic problem from the auctioneer's viewpoint.
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Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Reseña del editor
Excerpt from An Inverse-Optimization-Based Auction Mechanism to Support a Multi-Attribute Rfq Process
To engage bidders in a multi - attribute auction, an auctioneer needs to provide the bidders with some information pertaining to how he values the non-price attributes. While several rather obtuse approaches are possible the auctioneer could provide shadow prices from a mathematical program without revealing the mathematical program), the predominant approach in hpo practice and the one favored by most bidders because of its straightforward nature is for the auctioneer to announce a scoring rule in terms of the bid price and various attributes. This scoring rule may, or may not, be identical to the auctioneer's true utility function; indeed, this is the crux of the strategic problem from the auctioneer's viewpoint.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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