Chinese Journal of Management Science ›› 2009, Vol. 17 ›› Issue (1): 183-192.
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LIU Shu-lin, WANG Ming-xi
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Abstract: Procurement auctions in which the winner is determined based on the sole price criterion have not satisfied the procurement requirements for many industries in the real world Practically, to select the winner, in addition to the price, other important non-price attributes of the procured objects(including other cost attributes and benefit attributes) are often considered, such as quality, delivery time, and delivery terms and conditions.Thus, studies on multi-attribute auction theory become crucial.However, extension from traditional auctions to multi-attribute auctions has given rise to a series of challenge problems.In this paper, widespread applications and theoretical problems of multi-attribute auctions are presented.The multi-attribute auction models are divided into two groups(i.e., game-theoretical and decision-theoretical models).Assumptions, main ideas, and conclusions of literature related to the two groups of models are reviewed and commented.
Key words: procurement auction, winner determination, multi-attribute decision making
CLC Number:
F016
LIU Shu-lin, WANG Ming-xi. Multi-Attribute Procurement Auction Theory and Application: A Review with Comments[J]. Chinese Journal of Management Science, 2009, 17(1): 183-192.
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