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- W2920884920 abstract "Abstract Auctions are an important theoretical and practical tool in economics, and well studied in the literature. Their procurement siblings, reverse auctions, have received less attention, and are sometimes tacitly assumed to be exact counterparts. We show that for correlated bidders, reverse auctions behave differently from auctions. For two bidders we discuss a simplification of the problem of finding the optimal reverse auction. For k ≥ 3 bidders, we show that the optimal reverse auction must sometimes buy k copies of the item (and discard all but one of them)." @default.
- W2920884920 created "2019-03-22" @default.
- W2920884920 creator A5062440568 @default.
- W2920884920 date "2019-07-01" @default.
- W2920884920 modified "2023-09-27" @default.
- W2920884920 title "Reverse auctions are different from auctions" @default.
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- W2920884920 doi "https://doi.org/10.1016/j.ipl.2019.03.006" @default.
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