Multi-attribute procurement auctions based on Cobb-Douglas utility function

In practical multi-attribute procurement auctions, the profit and winning a contract have different importance to the suppliers. This paper assumes that the suppliers weight the profit and probability of winning a contract with Cobb-Douglas utility function, obtains the suppliers´ equilibrium bidding strategies and the buyer´ expected utilities in the first- and second-score auctions, and compares them with those under risk-neutral.