Reverse auction

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Reverse auction

An auction where the role of buyer and seller is reversed. The buyer advertises a need and sellers compete to provide the product or service. Generally the seller with the lowest bid wins the auction.
References in periodicals archive ?
The government conducted a public procurement auction over several stages.
The responsibility for [crude] oil and fuel procurement auction itself has been taken over by Pertamina" under his division, which is also in charge of the ISC.
3]s Bolognesi Group will set up two LNG receiving terminals and two related power plants with above 2,400MW of total generating capacity, following its booming participation in a government electricity procurement auction.
In other words, there is a trade-off as the combinatorial procurement auction may solve the exposure problem (lowering the offered prices from global bidders), it also introduces a free riding behavior (less aggressive bids from local bidders).
Nikolov notes that the latest type of cartel which the anti-trust watchdog came across involved public procurement auction manipulations.
the CMS auction performs poorly as a procurement auction.
The GSA is conducting a lease procurement auction and expects to make an award in the near future, he said.
This study documents the participation patterns and differences in bidding patterns among firms to argue that they are caused by anticipated synergies that are spatially correlated and reports that, when a firm with potential synergies and competitive advantages participates in a recurring procurement auction, its probability of winning the auction, conditional on bidding, increases.
While many success stories, especially about spectacular savings achieved through auctions, were reported in the media, managers involved in day-to-day operations with electronic procurement auctions are well aware of the fact that new concepts and sets of skills must be developed in order to successfully deploy electronic procurement auction strategies (Brunelli 2000; Jap 2000; Kenczyk 2000).
1 -15 , Tg Jiu Depasrtament Procurement Auction Room , 3rd floorPersons authorized to be present at the opening of tenders: yesEvaluation Committee and authorized representatives of participating operators .
Consider a stylized model of a standard multiunit procurement auction.
The competitive procurement auction implemented in 2006 will be discontinued, but contracts entered into under the 2006 auction will remain in place and related costs will be reflected in electricity tariffs.
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