Operations Academic Seminarhttps://weatherhead.case.edu/events/2018/04/11/operations-academic-seminar
In many real-world situations where a firm outsources a project, non-cost attributes such as completion time and quality are important considerations for the firm, in addition to cost. Typically, in such settings, the non-cost attributes are observed by the firm after the project is completed. Motivated by such a context, we consider a buyer who wishes to award a project to one among a set of contractors, each of whom is privately informed about his cost and his estimate of an a priori uncertain non-cost attribute. The uncertainty in the non-cost attribute is resolved after the project is completed and inflicts a disutility (or inconvenience) cost on the buyer. The buyer's problem is that of designing a procurement mechanism that minimizes her expected total cost. This paper is co-authored with Shivam Gupta, University of Nebraska, Lincoln, and Milind Dawande & Shouqiang Wang, University of Texas at Dallas.
Dept. Administrator, Dept. of Operations
||Wednesday, April 11, 2018 from 10:30 a.m. to noon
||Peter B. Lewis Building, Room 120
11119 Bellflower Road
Cleveland, OH 44106-7235
||Speaker(s): Ganesh Janakiraman, Univ of Texas at Dallas
Interested in learning more about Weatherhead programs? Request more information or apply now, or register for one of over 70 open enrollment courses through Executive Education.
Weatherhead School of Management at Case Western Reserve University cultivates creativity, innovation, and purpose-driven leadership to design a better world.