DocumentCode :
1792361
Title :
Which is more suitable for rare flowers, first-price sealed-bid auction or second-price sealed-bid auction?
Author :
Yongming Wang ; Chen Xiang
Author_Institution :
Kunming Univ. of Sci. & Technol., Kunming, China
fYear :
2014
fDate :
3-6 Aug. 2014
Firstpage :
2111
Lastpage :
2111
Abstract :
Dutch auction is successfully adopted in common flowers quickly in Kunming China, Netherlands, and other places; they have a large number of flower productions. However there are few papers discuss about what kind of auction mechanism is more suitable for rare flowers. Second-price auction and first-price auction are seldom used in flowers auction. We wonder which auction mechanisms in flower trade could make a good supply chain performance. In our paper, we define the notion of performance of supply chain in second-price and first-price auction about rare flowers. Using interdependent model with one single supplier and two resellers in the auction, we show the payoffs of both sides in order to weigh the indicator total revenues of supply chain, which is used to measure the performance of rare flowers supply chain. We firstly consider the quantities in consumer market with Nash equilibrium, afterward two resellers take part into the auction game, and value the bid function. After finishing the analysis of all the games, in simulation, we illustrate some numerical examples in order to validate conclusion.
Keywords :
agriculture; commerce; game theory; sales management; supply chain management; tendering; vegetation; Dutch auction; Kunming China; Nash equilibrium; Netherlands; auction game; auction mechanism; bid function; common flowers; consumer market; first-price sealed-bid auction; flower productions; flower trade; flowers auction; interdependent model; rare flowers supply chain; resellers; second-price sealed-bid auction; supply chain performance; total revenues; Cost accounting; Educational institutions; Equations; Games; Procurement; Supply chains; first-price sealed-bid auction; flower auction; fresh agricultural products auction; second-price sealed-bid auction; supply chain performance;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
Mechatronics and Automation (ICMA), 2014 IEEE International Conference on
Conference_Location :
Tianjin
Print_ISBN :
978-1-4799-3978-7
Type :
conf
DOI :
10.1109/ICMA.2014.6886030
Filename :
6886030
Link To Document :
بازگشت