: "Auction-Based Mechanisms for Electronic Procurement" describes scenarios where purchase requests are aggregated and bundled into a single Request for Quote (RFQ), allowing suppliers to provide volume discounts through competitive bids.
Bidders bid on an entire "lot" or package of goods as a single unit. bulk buy auctions
: This is a specific type of "bulk" auction where multiple identical items are sold. Bidders submit bids for both a price and a quantity, and winners pay the exact amount they bid. Summary of Bulk Auction Types Auction Type Description Group-Buying Bidders submit bids for both a price and
Multi-item auction where winners pay their individual bid prices for their chosen quantity. Key Papers & Concepts
For a deeper dive into how these mechanisms work, you can explore these specific resources:
This paper is particularly insightful because it defines the "group-buying auction" as a dynamic pricing mechanism where bidders form a collective to secure volume discounts: the more people who bid, the lower the final price becomes for everyone in the group. Key Papers & Concepts