A buyer seeking to outsource production may be able to find ways to reduce a potential supplier's cost, e.g., by suggesting improvements to the supplier's proposed production methods. We study how a buyer could use such "cost reduction investigations" by proposing a three-step supplier selection...

We experimentally study individuals' dynamic resource allocation decisions under a budget constraint, using product development as the decision context. During the development process, a series of design opportunities will emerge to improve the product with extra engineering costs. These...

We report the results of a novel protocol for running online experiments using a combination of an online experimental platform in parallel with web-conferencing software in two formats - with and without subject webcams - to improve subject attention and engagement. We compare results between...

We consider sealed- and open-bid total-cost procurement auctions where two attributes are used for contract award decisions: price, which is bid by the supplier, and a fixed cost adjustment, which is included by the buyer to capture nonprice factors such as logistics costs. Suppliers know only...