Competitive Multi-attribute On-line Auction

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Executive Summary

The emergence of auction that supports bids characterized by several attributes is one of the most recent evolutions within auction theory. This paper introduces the multi-attribute and transaction cost into the on-line auction, proposed by Lavi and Nisan. Different from the traditional on-line auction, the buyer makes decision only based on the bids, when each bidder comes one by one. The authors propose a novel multi-attribute on-line auction mechanism for a limited bidder base. The mechanism consists of two parts: first, evaluation of bidders' utility with an idea of a scoring rule designed by a buyer and second, the winner determination model.

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