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The First Use of a Combined-Value Auction for Transportation Services

Ledyard, John O. and Olson, Mark and Porter, David and Swanson, Joseph A. and Torma, David P. (2002) The First Use of a Combined-Value Auction for Transportation Services. Interfaces, 32 (5). pp. 4-12. ISSN 0092-2102. doi:10.1287/inte.32.5.4.30. https://resolver.caltech.edu/CaltechAUTHORS:20170809-132004799

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Abstract

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, it saved 13 percent over past procurement practices. Experimental economics played a crucial role in the development, sale, and use of the CVA.


Item Type:Article
Related URLs:
URLURL TypeDescription
https://doi.org/10.1287/inte.32.5.4.30DOIArticle
http://pubsonline.informs.org/doi/abs/10.1287/inte.32.5.4.30PublisherArticle
http://resolver.caltech.edu/CaltechAUTHORS:20170808-141429666Related ItemWorking Paper
Additional Information:© 2002 INFORMS. Published Online: October 1, 2002.
Issue or Number:5
DOI:10.1287/inte.32.5.4.30
Record Number:CaltechAUTHORS:20170809-132004799
Persistent URL:https://resolver.caltech.edu/CaltechAUTHORS:20170809-132004799
Official Citation:The First Use of a Combined-Value Auction for Transportation Services John O. Ledyard, Mark Olson, David Porter, Joseph A. Swanson, and David P. Torma Interfaces 200232:5 , 4-12
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:80022
Collection:CaltechAUTHORS
Deposited By: Tony Diaz
Deposited On:09 Aug 2017 20:34
Last Modified:15 Nov 2021 17:52

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