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

Ledyard, John O. and Olson, Mark A. 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 1526-551X. doi:0092-2102/02/3205/0004$05.00. https://resolver.caltech.edu/CaltechAUTHORS:20171106-141307390

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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
Contact Email Address:jledyard@hss.caltech.edu
Additional Information:© 2002 INFORMS. Published Online Oct. 1, 2002. Formerly SSWP 1193.
Subject Keywords:Economics; Games/group decisions: bidding/auctions; Transportation: costs
Issue or Number:5
DOI:0092-2102/02/3205/0004$05.00
Record Number:CaltechAUTHORS:20171106-141307390
Persistent URL:https://resolver.caltech.edu/CaltechAUTHORS:20171106-141307390
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:82993
Collection:CaltechAUTHORS
Deposited By: Jacquelyn Bussone
Deposited On:06 Nov 2017 23:18
Last Modified:03 Oct 2019 19:01

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