A Novel Intelligence-based e-Procurement System to offer Maximum Fairness Index in Ongoing Auction Process

A perfect auction policy is one of the most strategic elements that contribute to success factor for any e-Procurement system. An auction policy can be only term as an effective if it really offer win-win situation to both the bidder as well as to the merchant. After reviewing existing studies on e-Procurement system, it is found that there isno effective research work focusing on this point and maximum research contribution has limited its scope to certain application or case studis. Hence, the proposed system introduces a novel e-Procurement system which is equipped by an itelligence-building process for performing predictive analysis of ongoing auction process. A mathematical modelling is implemented where all teh variables have been formed using practical implementation of auction system and followed by optimization process using regression-based approach. The study outcome shows that proposed system offers better response time and higher predictive accuracy in contrast to existing approaches

Understanding and Supporting Decision-Making in Electronic Auctions: A NeuroIS Approach

Making use of the potential of NeuroIS, I apply a NeuroIS approach in this thesis to further the understanding of decision-making and to analyze the opportunities for NeuroIS in decision-support, both in electronic auctions

Market Engineering

This open access book provides a broad range of insights on market engineering and information management. It covers topics like auctions, stock markets, electricity markets, the sharing economy, information and emotions in markets, smart decision-making in cities and other systems, and methodological approaches to conceptual modeling and taxonomy development. Overall, this book is a source of inspiration for everybody working on the vision of advancing the science of engineering markets and managing information for contributing to a bright, sustainable, digital world. Markets are powerful and extremely efficient mechanisms for coordinating individuals’ and organizations’ behavior in a complex, networked economy. Thus, designing, monitoring, and regulating markets is an essential task of today’s society. This task does not only derive from a purely economic point of view. Leveraging market forces can also help to tackle pressing social and environmental challenges. Moreover, markets process, generate, and reveal information. This information is a production factor and a valuable economic asset. In an increasingly digital world, it is more essential than ever to understand the life cycle of information from its creation and distribution to its use. Both markets and the flow of information should not arbitrarily emerge and develop based on individual, profit-driven actors. Instead, they should be engineered to serve best the whole society’s goals. This motivation drives the research fields of market engineering and information management. With this book, the editors and authors honor Professor Dr. Christof Weinhardt for his enormous and ongoing contribution to market engineering and information management research and practice. It was presented to him on the occasion of his sixtieth birthday in April 2021. Thank you very much, Christof, for so many years of cooperation, support, inspiration, and friendship