2 The First Use of a Combined Value Auction for Transportation Services
نویسندگان
چکیده
Combined value auctions (CVAs) allow participants to make an offer of a single amount for a collection of items. These auctions provide value to both buyers and sellers of goods or services in a number of environments, but they have rarely been implemented, perhaps because of lack of knowledge and experience. Sears Logistics Services (SLS) is the first procurer of trucking services to use a CVA to reduce its costs. In 1993 they saved 13% over past procurement practices. Experimental economics played a crucial role in the development, sale, and use of the CVA.
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