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
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