We examine a supply base diversification problem faced by a buyer who periodically holds auctions to award short term supply contracts among a cohort of suppliers (i.e., the supply base). To mitigate significant cost shocks to procurement, the buyer can diversify her supply base by selecting...

We consider sealed and open-bid total-cost procurement auctions where two attributes are used for contract award decisions: price, which is bid by the supplier; and a fixed quality adjustment cost, which is included by the buyer to capture non-price factors such as a supplier's quality and...

This paper studies the role of seekers' problem specification in crowdsourcing contests for design problems. Platforms hosting design contests offer detailed guidance for seekers to specify their problems when launching a contest. Yet, problem specification in such crowdsourcing contests is...

In this paper, we empirically examine the impact of performance feedback on the outcome of crowdsourcing contests. We develop a dynamic structural model to capture the economic processes that drive contest participants' behavior, and estimate the model using a rich data set about real online...

We study a manufacturer that faces a supplier privileged with private information about supply disruptions. We investigate how risk-management strategies of the manufacturer change, and examine whether risk-management tools are more, or less, valuable, in the presence of such asymmetric...

In theory, combinatorial auctions can provide significant benefits in many real-world applications, such as truckload procurement. In practice, however, the use of such auctions has been greatly limited by the need for bidders to bid on an exponential number of bundles and for the auctioneer to...