Improving the Efficiency of Defense Auctions: Multi-Stage Auctions as a Market Research Tool

Abstract

The purpose of this MBA Project was to investigate auction theory to obtain a means of coupling market research and final contract objectives. Federal buyer's have imperfect information regarding what could best meet needs and have difficulty obtaining information. A multi-stage auction model was designed and compared to current single-stage auctions. The multi-stage auction obtains an improvement in total buyer's surplus, actual buyer s surplus and selects the ideal seller more frequently. The multi-stage auction may be implemented without major policy changes and may be used effectively in contracts for services, or in contingent environments.

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Document Details

Document Type
Technical Report
Publication Date
Dec 01, 2007
Accession Number
ADA475948

Entities

People

  • Steven W. Vanden Bos

Organizations

  • Naval Postgraduate School

Tags

Communities of Interest

  • C4I
  • Materials and Manufacturing Processes
  • Weapons Technologies

DTIC Thesaurus Topics

  • Acquisition
  • Air Force
  • Business Administration
  • California
  • Commerce
  • Contracts
  • Department Of Defense
  • Economics
  • Environment
  • Equations
  • Governments
  • Literature Surveys
  • Market Research
  • Military Acquisition
  • Models
  • Procurement
  • Simulations

Readers

  • Economics
  • Mathematical Modeling and Probability Theory.