Optimal auctions for multi-unit procurement with volume discount bids
type: Item
instance of: scholarly article
title: Optimal auctions for multi-unit procurement with volume discount bids
zbMATH Open document ID: 1169.90376
DOI: 10.1504/IJOR.2009.026244
author: Raghav Kumar Gautam
author: Hastagiri Prakash
author: Devadatta M. Kulkarni
author: Jeffrey D. Tew
author: Nandyala Hemachandra
author: Y. Narahari
published in: International Journal of Operational Research
publication date: 2009-09-13T00:00:00Z
review text: Summary: In this paper, we design an optimal procurement mechanism for procuring multiple units of a single homogeneous item based on volume discount bids submitted by rational and intelligent suppliers. We develop an elegant auction mechanism, VD-OPT, that minimises the cost to the buyer and satisfies at the same time both Bayesian incentive compatibility (BIC) and interim individual rationality.
Mathematics Subject Classification ID: 90B50
zbMATH DE Number: 5603414
zbMATH Keywords: multi-unit procurement
zbMATH Keywords: volume discounts
zbMATH Keywords: incentive compatibility
zbMATH Keywords: individual rationality
zbMATH Keywords: optimal mechanisms
zbMATH Keywords: optimisation
zbMATH Keywords: optimal auctions
zbMATH Keywords: volume discount bids
MaRDI profile type: Publication
full work available at URL: ijor.2009.026244
OpenAlex ID: W2081723131
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description: scientific article; zbMATH DE number 5603414