Electronic auctions have rapidly become one of the most widespread applications in electronic commerce. Within e-auctions, the online products are almost anything imaginable such as electronic parts, artwork, vacation packages, airline tickets, etc. In this paper, the reverse auction was implemented by proposing a suitable bidding mechanism for perishable products like hotel rooms. These vacant rooms should be sold as soon as possible before their value zeroes. Therefore, the Last-Minute Auction not only helps the buyers get their desired rooms, but also helps the hotels to selling their rooms in time. The research combined the Hungarian algorithm and Branch-and-Bound search to match the buyers' demand and the sellers' supply and optimizing the auction site’s revenue.
Esichaikul, Vatcharaporn; Bechter, Clemens; and Nhan, Le Thi, "A Last-Minute E-Auction for Hotel Rooms" (2005). ICEB 2005 Proceedings. 137.