We investigate the effect of regret-related feedback information on bidding behavior in sealed-bid first-price auctions. Two types of regret are possible in this auction format. A winner of the auction may regret paying too much relative to the second highest bid, and a loser may regret missing...

One of the goals of procurement is to establish a competitive price while affording the buyer some flexibility in selecting the suppliers to deal with. Reverse auctions do not have this flexibility, because it is the auction rules and not the buyer that determines the winner. In practice,...

Reverse auctions are fast becoming the standard for many procurement activities. In the past, the majority of such auctions have been solely price based, but increasingly attributes other than price affect the auction outcome. Specifically, the buyer uses a scoring function to compare bids and...