Auction. In a procurement setting, the winner of the Hybrid auction by design receives payment at the most equal to the second … underlying cost function. In the least structured case of a variable returns to scale technology, the hybrid auction only … improved the outcome for a small percentage of cases. However, for those few cases the improvement introduced by the hybrid …

setting, the winner of the Hybrid auction by design receives payment at the most equal to the Second Score auction. It is … case of a variable returns to scale technology, the hybrid auction only improved the outcome for a small percentage of …