A Multiattribute Auction Procedure and Its Implementation

A multiattribute auction procedure that allows bidders to make informed bids without knowledge of the bid-taker´s preferences is presented. The procedure can be extended to allow the bid-taker to differentiate among the bidders, place them into categories, and formulate different requirements for each category. The procedure is adapted to reverse auctions and it is illustrated with a simple procurement case. The implementation of the procedure in the IMARAS system and the initial results from the system use in experimental settings are discussed.