We analyze a two-attribute procurement auction that uses yardstick competition to settle prices. The submitted sealed bids are replaced by yardstick bids, computed by a linear weighting of the other participants’ bids. The auction simplifies the procurement process by reducing the...

We analyze a simple multi-attribute procurement auction that uses yardstick competition to settle prices. Upon receiving the submitted bids the auctioneer computes the yardstick prices (bids) by a linear weighting of the other participants’ bids. The auction simplifies the procurement process...