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Procurement auctions are widely used by governments and corporations to solicit bids for services and projects. Such auctions involve significant risk for the buyer, because the delivered quality is highly uncertain. We examine a multi‐attribute procurement auction combined with a performance‐based contract. In this setting, suppliers submit bids which include both price and promised quality. After...
Wholesale price bids commonly occur in procurement auctions where dual sourcing is usually employed to mitigate supply risks. When at most two winners are required, unreliable wholesale price bidders face the unique trade‐off between unit margin and quantity allocation that depends on both winners' bids and the reliabilities. Motivated by above facts and considerations, we investigate several auction...
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