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Supply-chain Auction
A supply-chain auction is an auction for coordinating trade among various suppliers and consumers in a supply chain. It is a generalization of a double auction. In a double auction, each deal involves two agents - a buyer and a seller, so the "supply-chain" contains only a single link. In a general supply-chain auction, each deal may involve many different agents, for example: a seller, a mediator, a transporter and a buyer. Auction for a linear supply-chain Babaioff and Nisan present an auction for the case in which the supply-chain is linear - each node in the chain consumes the output of the previous node and produces input for the next node. There is one class of ''initial suppliers'', several classes of ''converters'', and one class of ''end consumers''. Their running example is a lemonade market, in which there are three kinds of agents: ''pickers'', ''squeezers'' and ''drinkers'': * Each ''picker'' picks a single lemon from a nearby tree, for a fixed cost; * Each ''sq ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Auction
An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different types. The branch of economic theory dealing with auction types and participants' behavior in auctions is called auction theory. The open ascending price auction is arguably the most common form of auction and has been used throughout history. Participants bid openly against one another, with each subsequent bid being higher than the previous bid. An auctioneer may announce prices, while bidders submit bids vocally or electronically. Auctions are applied for trade in diverse contexts. These contexts include antiques, paintings, rare collectibles, expensive wines, commodities, livestock, radio spectrum, used cars, real estate, online advertising, vacation packages, emission trading, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply Chain
In commerce, a supply chain is a network of facilities that procure raw materials, transform them into intermediate goods and then final products to customers through a distribution system. It refers to the network of organizations, people, activities, information, and resources involved in delivering a product or service to a consumer. Supply chain activities involve the transformation of natural resources, raw materials, and components into a finished product and delivering the same to the end customer. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains. Suppliers in a supply chain are often ranked by "tier", with first-tier suppliers supplying directly to the client, second-tier suppliers supplying to the first tier, and so on. Overview A typical supply chain begins with the ecological, biological, and political regulation of natural resources, followed by the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Double Auction
A double auction is a process of buying and selling goods with multiple sellers and multiple buyers. Potential buyers submit their bids and potential sellers submit their ask prices to the market institution, and then the market institution chooses some price ''p'' that clears the market: all the sellers who asked less than ''p'' sell and all buyers who bid more than ''p'' buy at this price ''p''. Buyers and sellers that bid or ask for exactly ''p'' are also included. A common example of a double auction is stock exchange. As well as their direct interest, double auctions are reminiscent of Walrasian auction and have been used as a tool to study the determination of prices in ordinary markets. A double auction is also possible without any exchange of currency in barter trade. A barter double auction is an auction where every participant has a demand and an offer consisting of multiple attributes and no money is involved. For the mathematical modelling of satisfaction level Euclid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Truthful Mechanism
In game theory, an asymmetric game where players have private information is said to be strategy-proof or strategyproof (SP) if it is a weakly-dominant strategy for every player to reveal his/her private information, i.e. given no information about what the others do, you fare best or at least not worse by being truthful. SP is also called truthful or dominant-strategy-incentive-compatible (DSIC), to distinguish it from other kinds of incentive compatibility. An SP game is not always immune to collusion, but its robust variants are; with group strategyproofness no group of people can collude to misreport their preferences in a way that makes every member better off, and with strong group strategyproofness no group of people can collude to misreport their preferences in a way that makes at least one member of the group better off without making any of the remaining members worse off. Examples Typical examples of SP mechanisms are majority voting between two alternatives, second- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reverse Auction
A reverse auction (also known as buyer-determined auction or procurement auction) is a type of auction in which the traditional roles of buyer and seller are reversed. Thus, there is one buyer and many potential sellers. In an ordinary auction also known as a forward auction, buyers compete to obtain goods or services by offering increasingly higher prices. In contrast, in a reverse auction, the sellers compete to obtain business from the buyer and prices will typically decrease as the sellers underbid each other. A reverse auction is similar to a unique bid auction because the basic principle remains the same; however, a unique bid auction follows the traditional auction format more closely as each bid is kept confidential and one clear winner is defined after the auction finishes. For business auctions, the term refers to a specific type of auction process (also called e-auction, sourcing event, e-sourcing or eRA, eRFP, e-RFO, e-procurement, B2B Auction). Open procurement pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Types Of Auction
Type may refer to: Science and technology Computing * Typing, producing text via a keyboard, typewriter, etc. * Data type, collection of values used for computations. * File type * TYPE (DOS command), a command to display contents of a file. * Type (Unix), a command in POSIX shells that gives information about commands. * Type safety, the extent to which a programming language discourages or prevents type errors. * Type system, defines a programming language's response to data types. Mathematics * Type (model theory) * Type theory, basis for the study of type systems * Arity or type, the number of operands a function takes * Type, any proposition or set in the intuitionistic type theory * Type, of an entire function ** Exponential type Biology * Type (biology), which fixes a scientific name to a taxon * Dog type, categorization by use or function of domestic dogs Lettering * Type is a design concept for lettering used in typography which helped bring about modern textual printin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contexts For Auctions
''Contexts'': ''Understanding People in their Social Worlds'' is a quarterly peer-reviewed academic journal and an official publication of the American Sociological Association. It is designed to be a more accessible source of sociological ideas and research and has been inspired by the movement towards public sociology. Sections of the Journal * Backpage * Books * Culture * Feature * From the Editors * In brief * Q&A * Teaching and Learning * Trends * Viewpoints History The journal was established in 2002 by Claude Fischer and is published by SAGE Publications; until 2011, it was published by the University of California Press. Fischer was succeeded by Jeff Goodwin and James M. Jasper, who edited the journal from 2005 to 2007, injecting a certain amount of controversial humor such as New Yorker cartoons and a column written by "Harry Green" (actually Jasper) called "The Fool." The current editors are Rashawn Ray ( University of Maryland-College Park) and Fabio Rojas (In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
