Blind Multi-Stage Scoring Auctions with Value Function Estimation
Talk, International Conference on Industrial Logistics, Tokyo, Japan
Government procurement often suffers from subjectivity because reviewers rely on variable and partially unknown value functions to score multi-attribute bids. We address this challenge with a few-shot value function estimation framework and propose a greedy online heuristic solver that incrementally approximates both the structure and weights of the underlying value function. We apply the algorithm to a public works case study, where our results show that a 7-attribute value function can be accurately recovered in under 20 iterations, enabling bidders to adapt quickly and effectively in multi-stage scoring auctions.