For any organisation, saving on procurement costs has an impact on profitability that is multiplied by gross margin. Although much research focus has been placed on achieving the lowest possible cost for the goods/services purchased we concern ourselves here with the operational procurement...

In this paper we describe an evolution-based method for evaluating auction mechanisms, and apply it to a space of mechanisms including the standard first- and second-price sealed bid auctions. We replicate results known already in the Auction Theory literature regarding the suitability of...