Research Article

A Framework for Online Reverse Auction Based on Market Maker Learning with a Risk-Averse Buyer

Table 2

Researches related to the multiattribute reverse auction and proposed model.

ReferenceBuyer problemSeller problemThe number of roundsThe number of attributesDisclosure of buyer’s informationDisclosure of seller’s information
For other sellersBuyer

[15]Determining the highest score by the scoring functionEquilibrium solution for bayesian gamesMultiroundTwoOpenCost distribution functionSealed
[14]Predicting the cost function of sellers by using reverse optimization and maximizing utilityUtility functionMultiroundTwo or moreSealedOpenEstimating the parametric form of the cost function
[18]Maximizing the efficiencyMaximizing the efficiencySingle-roundTwo or moreOpenOpenCost function
[23]Data envelopment analysis model with goal of maximizing utility functionTwo-roundTwo or moreThe function of prioritizing in first round and private attributes in second roundSealedSealed
[22]The data envelopment analysis model aims to maximize the probability of determining the winner in the next roundMultiroundTwo or moreSealedSealedProviding the level of attributes for previous winning bids, minimum threshold levels for noncompetitive attributes, and the relative importance of attributes by the online platform
[19]Maximizing the expected scoreMaximizing expected utilitySingle-roundTwoScoring distribution functionSealedBids distribution function
[17]Maximizing the utility functionMaximizing the profitMultiroundTwo or moreEstimation of the metric scoring function based on previous scoresSealedSealed
[7]Fuzzy minimization of cost of purchase (price) and expected delivery time difference, with proposed delivery time and objective function of the sellerProfit maximization considering the satisfaction of the constraints on the seller’s production programSingle-roundTwo or moreMaster production scheduleSealedSealed
[20]Minimizing the purchase costsMaximizing the profitSingle-roundTwo or moreOpenSealedSealed
[16]Maximizing the utility functionMaximizing the utility functionMultiroundTwo or moreSealedSealedSealed
[26]Maximizing the score by BOCR-uRTODIM frameworkSingle-roundTwo or moreSealedSealedSealed
[21]Maximizing the payoff based on evolutionary gameMultiroundTwo or moreSealedSealedSealed
The current paperDetermining the highest score by the scoring functionProfit maximization and minimizing the distance to the ideal buyer’s bidMultiroundTwo or moreEstimation of scoring function by online auction service provider using artificial neural networkSealedSealed