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 ?
Reverse auction technology enables the commonwealth to hold live, online auctions where bidders can anonymously see how their prices compare to those of other anonymous bidders competing for commonwealth contracts.
It's official: Round 53 was the last round of bidding in Stage 4 of the reverse auction.
As part of its Energy Solutions Program, the American Foundry Society (AFS) with EMEX LLC, Houston, has announced a new partnership to assist AFS Corporate Members in the procurement of electricity and natural gas rates through EMEX's Reverse Auction Platform.
In the reverse auction, vetted suppliers evaluate the customer's energy usage profile and bid for the customer's business in real-time.
Given that future oil price is an important determinant of riskiness of an investment, a reverse auction may be attractive to potential investors.
ORAs differ in that multiple suppliers are solicited to participate in the online reverse auction in which they can submit multiple bids, while competing bid prices are public to all parties.
A reverse auction is a competitive process in which a buyer, such as a federal agency, solicits bids from sellers such as SDVOSBs during a period of time set by the buyer.
Air New Zealand yesterday announced plans to launch a new reverse auction where the price of flights will tick down a dollar at a time.
5bn worth of bonds in total in its first reverse auction - more than five times the amount it bought yesterday.
Following chapters discuss the product in terms of approaches to bundling, and multi-attribute auctions; the auction process itself, and reverse auction success.
Put simply, the reverse auction process ignores the "real world" issues telcos face in building and maintaining the network infrastructure.