A Bid Evaluation Method for Multi-attribute Online Reverse Auction

Abstract

With rapid development of economy and society, online reverse auctions play an important role in procurement. In traditional reverse auctions. Buyers and sellers just compete on the price of the subject, regardless of other attributes like quality, performance, reliability and so on. However, this can not meet the real needs of the tender. Multi-attribute reverse auctions become more rational way. This paper study on the single item, multi-attribute reverse auction. Aiming at address the issues how to determine the total score of bidding program. This study focus on the bid evaluation method . Giving a more reasonable way to handle multiple expert scoring. This method can help to reduce the impact caused by the subjective preference. This paper use the Entropy-weight method to determine the weight of each attribute, and use normal distribution based method to integrate scores of each expert for attributes. Combining with these two method not only can improve auction efficiency, but also ensure fair in evaluation bidding process.