What is it about?
There are different ways to purchase products and services. Should we use auctions (allowing vendors to bid) or negotiate with the vendors? This research conducted lab and online experiments to show you which one is better and under what conditions.
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Why is it important?
This is the first empirical study that compares multi-attribute auctions and negotiations in a one-to-many setting. It also incorporates various perspectives, including: information technologies, design science research, experimental economics, and behavior research. The findings show that auctions favor the buyer in gains but not always efficient, while negotiations balance between buyer and vendors as well as gains and process efficiency.
Perspectives
This paper was the final product of a 6-year PhD project. I've gained a lot experiences in preparing, writing and publishing this article. It was like raising a child in my academic career, and it grows with both smiles and tears ...
ShiKui Wu
Lakehead University
Read the Original
This page is a summary of: Procurement auctions and negotiations: An empirical comparison, Journal of Organizational Computing and Electronic Commerce, August 2017, Taylor & Francis,
DOI: 10.1080/10919392.2017.1363576.
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