Truthful multi-unit multi-attribute double auctions for perishable supply chain trading

Meng Cheng; Su Xiu Xu; George Q. Huang

doi:10.1016/j.tre.2016.05.009

Truthful multi-unit multi-attribute double auctions for perishable supply chain trading

Meng Cheng, Su Xiu Xu, George Q. Huang

Research output: Journal article publication › Journal article › Academic research › peer-review

33 Citations (Scopus)

Abstract

This paper aims to propose multi-attribute double auctions for perishable supply chain trading (PSCT). We first construct a multi-unit/single-unit multi-attribute double auction (MS-MDA) for PSCT where suppliers can submit bids on a single unit of one item (i.e., single output restriction). We then relax the single output restriction and propose a multi-unit multi-attribute double auction (M-MDA) for PSCT in which each supplier offers multiple units of one item. Both the MS-MDA and M-MDA mechanisms are incentive compatible, individually rational, budget balanced and computationally efficient. The computational study shows that all proposed mechanisms are of high allocation efficiency and practically implementable.

Original language	English
Pages (from-to)	21-37
Number of pages	17
Journal	Transportation Research Part E: Logistics and Transportation Review
Volume	93
DOIs	https://doi.org/10.1016/j.tre.2016.05.009
Publication status	Published - 1 Sept 2016
Externally published	Yes

Keywords

Incentive compatibility
Mechanism design
Multi-attribute double auctions
Perishable supply chain trading

ASJC Scopus subject areas

Business and International Management
Civil and Structural Engineering
Transportation

More information

10.1016/j.tre.2016.05.009

Cite this

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title = "Truthful multi-unit multi-attribute double auctions for perishable supply chain trading",

abstract = "This paper aims to propose multi-attribute double auctions for perishable supply chain trading (PSCT). We first construct a multi-unit/single-unit multi-attribute double auction (MS-MDA) for PSCT where suppliers can submit bids on a single unit of one item (i.e., single output restriction). We then relax the single output restriction and propose a multi-unit multi-attribute double auction (M-MDA) for PSCT in which each supplier offers multiple units of one item. Both the MS-MDA and M-MDA mechanisms are incentive compatible, individually rational, budget balanced and computationally efficient. The computational study shows that all proposed mechanisms are of high allocation efficiency and practically implementable.",

keywords = "Incentive compatibility, Mechanism design, Multi-attribute double auctions, Perishable supply chain trading",

author = "Meng Cheng and Xu, {Su Xiu} and Huang, {George Q.}",

note = "Funding Information: The authors acknowledge HKSAR RGC GRF Project (Grant No. 712513 ), National Natural Science Foundation of China (Grant No. 51405307 ), China Postdoctoral Science Foundation ( 2015M570720 ), Collaborative Research Fund from The Procter & Gamble Company, Zhejiang Provincial, Hangzhou Municipal, and Lin{\textquoteright}an City governments for partial financial support for this research. The authors also thank the reviewers and editors for their critical but constructive comments. Publisher Copyright: {\textcopyright} 2016 Elsevier Ltd.",

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doi = "10.1016/j.tre.2016.05.009",

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AU - Huang, George Q.

N1 - Funding Information: The authors acknowledge HKSAR RGC GRF Project (Grant No. 712513 ), National Natural Science Foundation of China (Grant No. 51405307 ), China Postdoctoral Science Foundation ( 2015M570720 ), Collaborative Research Fund from The Procter & Gamble Company, Zhejiang Provincial, Hangzhou Municipal, and Lin’an City governments for partial financial support for this research. The authors also thank the reviewers and editors for their critical but constructive comments. Publisher Copyright: © 2016 Elsevier Ltd.

PY - 2016/9/1

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N2 - This paper aims to propose multi-attribute double auctions for perishable supply chain trading (PSCT). We first construct a multi-unit/single-unit multi-attribute double auction (MS-MDA) for PSCT where suppliers can submit bids on a single unit of one item (i.e., single output restriction). We then relax the single output restriction and propose a multi-unit multi-attribute double auction (M-MDA) for PSCT in which each supplier offers multiple units of one item. Both the MS-MDA and M-MDA mechanisms are incentive compatible, individually rational, budget balanced and computationally efficient. The computational study shows that all proposed mechanisms are of high allocation efficiency and practically implementable.

AB - This paper aims to propose multi-attribute double auctions for perishable supply chain trading (PSCT). We first construct a multi-unit/single-unit multi-attribute double auction (MS-MDA) for PSCT where suppliers can submit bids on a single unit of one item (i.e., single output restriction). We then relax the single output restriction and propose a multi-unit multi-attribute double auction (M-MDA) for PSCT in which each supplier offers multiple units of one item. Both the MS-MDA and M-MDA mechanisms are incentive compatible, individually rational, budget balanced and computationally efficient. The computational study shows that all proposed mechanisms are of high allocation efficiency and practically implementable.

KW - Incentive compatibility

KW - Mechanism design

KW - Multi-attribute double auctions

KW - Perishable supply chain trading

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JF - Transportation Research Part E: Logistics and Transportation Review

ER -

Truthful multi-unit multi-attribute double auctions for perishable supply chain trading

Abstract

Keywords

ASJC Scopus subject areas

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