The empirical analysis of the N-bilateral optimized combinatorial auction model

Jin Ho Choi, Yong Sik Chang and Ingoo Han

Omega, 2009, vol. 37, issue 2, 482-493

Abstract: This study proposes a new and highly efficient dynamic combinatorial auction mechanism--the N-bilateral optimized combinatorial auction (N-BOCA). N-BOCA is a flexible iterative combinatorial auction model that offers more optimized trading for multiple suppliers and purchasers in the supply chain than one-sided combinatorial auction. We design the N-BOCA model from the perspectives of market architecture, trading rules, and decision strategy for winner determination, the decision strategy for winner determination needs flexible optimization modeling capability. Thus rule-based reasoning was applied for reflecting the flexible decision strategies. We also show the viability of N-BOCA through Paired Samples T-test experimentation. It shows that N-BOCA yields higher purchase efficiency and effectiveness than the one-auctioneer to multi-bidders (1-to-N) combinatorial auction mechanism.

Keywords: Combinatorial; auction; N-bilateral; optimized; combinatorial; auction; Optimization; modeling; Supply; chain (search for similar items in EconPapers)
Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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