We design a simple ascending Vickrey auction for the combinatorial allocation problem. We make use of a concept called universal competitive equilibrium (UCE) price to design our auction. Our auction searches for a UCE price, which (along with an efficient allocation) provides enough information to compute the Vickrey payments of buyers. Our auction maintains non-linear and non-anonymous prices...

Research Article Tat Koon Koh Hong Kong University of Science and Technology [email protected] Mark Fichman Carnegie Mellon University [email protected] Robert E. Kraut Carnegie Mellon University [email protected] This study focuses on trust formation and development in global buyer-supplier relationships. Trust affects all business relationships, especially global business-to-business (B2B) transaction...

We model a matching market in which nonstrategic vendors sell items of different types and offer discounted prices on the bundle of all items triggered by demand volumes. Each buyer acts strategically in order to maximize her utility, given by the difference between product valuations and price paid. In a market with transferable utility, buyers might be willing to cooperate by exchanging side-...

OBJECTIVE The primary objective of this study was to examine neurological soft signs in patients with obsessive-compulsive disorder compared with patients with schizophrenia and a control group in the Indian setting. The secondary objective was to find any correlation between age at onset and neurological soft signs scores, as well as that between severity of obsessive-compulsive disorder sympt...

The aim of the present study was to identify the factors that affect and motivate the purchase of quality-labelled beef in Spain. For this purpose a total of 364 surveys were carried out on buyers of beef in three Spanish cities. The sample was divided into three groups of buyers according to the frequency with which they buy beef with a quality label. A logistic regression analysis was used to...

In two-sided markets an intermediary brings together two distinct customer populations, such as buyers and sellers on an e-commerce platform. In these markets the growth process of customer populations depends on network effects both within and between buyers and sellers. Thus, assigning IT investments to customer populations and quantifying the monetary value of these investments is complex. W...

This paper proposes a new e-procurement model for a large number of buyers and sellers interacting via the Internet. The goal of e-procurement is to create a satisfactory match between buyers’ demand and sellers’ supply. From our real-world experience, we view e-procurement as a process of negotiation to increase the matching quality of two corresponding specifications: one for buyers’ demand a...

When the seller of an asset grants a right-of-first-refusal to a buyer, this special buyer has the opportunity to purchase the asset at the best price the seller can obtain from the other potential buyers. We show that the right-of-first-refusal is inefficient, and it benefits the special buyer at the expense of the seller and other buyers. In a private values model, the benefit from granting a...

In this paper a market where a buyer (job seeker) is searching in a known order among sellers (e.g. a motorist driving along a road looking for gasoline) is described. Both sellers and buyers are assumed to behave strategically. There are many types of buyers. The sellers know only the distribution of all possible buyers; similarly, buyers have imperfect information about sellers. The analysis ...

The Internet allows for A2A commerce at an unprecedented scale; anyone can do business with anyone. The new markets made possible by the Internet bring with them new challenges. This paper presents a system for buyers in electronic markets to avoid bad sellers by modeling the reputation of a seller. The model proposed by Cohen and Tran [6] is extended to provide a method for the exchange of ind...