An Investigation of a Proposed Auction Technique as a Method of Procurement.
Abstract
The Department of Defense procurement system has not always been effective in establishing a reasonable price. This thesis' purpose was to investigate an Auction Technique as an alternative procurement method. Formal Advertising was used for comparison purposes. Four tests were made: (1) determine the reliability of both procurement methods by comparing the results of a hypothetical procurement to a predictive model, (2) determine which procurement method would result in the lowest price, (3) investigate how bids would change when the expectation of future business changed, and (4) determine the difference between the lowest bid and the second lowest bid for each procurement method.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jan 01, 1975
- Accession Number
- ADA006350
Entities
People
- Robert G. Welbaum
- Willie J. Freeman Jr.
Organizations
- Air Force Institute of Technology