Accession Number : ADA623801
Title : Auction and Game Theory Based Recommendations for DOD Acquisitions
Descriptive Note : Research rept.
Corporate Author : AIR FORCE ACADEMY COLORADO SPRINGS CO
Personal Author(s) : Blott, Justin ; Boardman, Nicholas ; Cady, Andrew ; Elliott, Jake ; Griffin, William ; Mastronardi, Nick ; Quinn, Parker
Report Date : 24 Mar 2015
Pagination or Media Count : 48
Abstract : This paper synthesizes auction and game theory literature into specific military acquisition improvement recommendations. We characterize acquisition environments into distinct categories, present the results of seminal literature that pertains to each category, and translate the literatures recommendations for military contracting practitioners. The relevant categories are procurement with unknown cost and no risk, item(s) with known costs and existent but understood stochastic risk, and item(s) with unknown costs and/or unknown stochastic risk. We break out these three categories into sub-categories depending on whether there are one or multiple potential competing vendors, and, if multiple, by whether we must buy one lot or potentially a schedule of lots from a host of vendors.
Descriptors : *GAME THEORY , *MILITARY PROCUREMENT , CONTRACTS , COSTS , DEPARTMENT OF DEFENSE , LITERATURE SURVEYS , MODELS , OFF THE SHELF EQUIPMENT , RISK , SCHEDULING , VENDORS
Subject Categories : Operations Research
Logistics, Military Facilities and Supplies
Distribution Statement : APPROVED FOR PUBLIC RELEASE