TY - GEN
T1 - Efficiently generating k-best solutions to procurement auctions
AU - Byde, Andrew
AU - Kelly, Terence
AU - Zhou, Yunhong
AU - Tarjan, Robert
N1 - Copyright:
Copyright 2009 Elsevier B.V., All rights reserved.
PY - 2009
Y1 - 2009
N2 - Procurement executives often find it difficult to articulate their preferences and constraints regarding auctions, making it difficult to cast procurement decisions as straightforward optimization problems. This paper presents an efficient algorithm to aid decision support in such situations. Instead of trying to compute a single optimal solution for the auction winner determination problem, we generate many candidate solutions in ascending order of buyer expenditure. Standard techniques such as clustering and dominance pruning can then trim this list to a compact yet diverse menu of alternatives; other analyses can illuminate the cost of constraints and the competitive landscape. Our efficient solution-generation algorithm addresses sealed-bid procurement auctions with multiple suppliers and multiple types of goods available in multiple units. It supports multi-sourcing and volume discounts/surcharges in bids. Our algorithm may optionally incorporate certain classes of hard constraints, generating only solutions that satisfy them.
AB - Procurement executives often find it difficult to articulate their preferences and constraints regarding auctions, making it difficult to cast procurement decisions as straightforward optimization problems. This paper presents an efficient algorithm to aid decision support in such situations. Instead of trying to compute a single optimal solution for the auction winner determination problem, we generate many candidate solutions in ascending order of buyer expenditure. Standard techniques such as clustering and dominance pruning can then trim this list to a compact yet diverse menu of alternatives; other analyses can illuminate the cost of constraints and the competitive landscape. Our efficient solution-generation algorithm addresses sealed-bid procurement auctions with multiple suppliers and multiple types of goods available in multiple units. It supports multi-sourcing and volume discounts/surcharges in bids. Our algorithm may optionally incorporate certain classes of hard constraints, generating only solutions that satisfy them.
UR - http://www.scopus.com/inward/record.url?scp=70350645192&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=70350645192&partnerID=8YFLogxK
U2 - 10.1007/978-3-642-02158-9_8
DO - 10.1007/978-3-642-02158-9_8
M3 - Conference contribution
AN - SCOPUS:70350645192
SN - 3642021573
SN - 9783642021572
T3 - Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
SP - 68
EP - 84
BT - Algorithmic Aspects in Information and Management - 5th International Conference, AAIM 2009, Proceedings
T2 - 5th International Conference on Algorithmic Aspects in Information and Management, AAIM 2009
Y2 - 15 June 2009 through 17 June 2009
ER -