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RUTCOR Colloquia - November 10, 2004
Speaker: Elena Katok
Affiliation: Smeal College of Business Administration, Penn State University
Title: e-Sourcing in Procurement: Theory and Behavior in Reverse Auctions with Non-Competitive Contracts
Time: 2:00 - 3:00 PM
Location: RUTCOR Building - Lounge, Rutgers University, Busch Campus, Piscataway, NJ
Abstract: Buyers often combine non-competitive purchasing with auctions
in order to help preserve long-term relationships, while simultaneously
introducing an element of market competition into the procurement process. We
present a theoretical and laboratory comparison of descending bid auctions with
and without non-competitive sales and find that non-competitive sales decrease
the buyers' costs in the laboratory by over 10 percent.
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