Romero Morales, Dolores; Steinberg, Richard - In: European Journal of Operational Research 233 (2014) 1, pp. 131-144
Consider a firm, called the buyer, that satisfies its demand over two periods by assigning both demands to a supplier via a second-price procurement auction; call this the Standard auction. In the hope of lowering its purchase cost, the firm is considering an alternative procedure in which it...