Approaches to winner determination in combinatorial auctions
نویسندگان
چکیده
منابع مشابه
Approaches to winner determination in combinatorial auctions
Combinatorial auctions, i.e. auctions where bidders can bid on combinations of items, tend to lead to more eecient allocations than traditional auctions in multi-item auctions where the agents' valuations of the items are not additive. However, determining the winners so as to maximize revenue is NP-complete. First, existing approaches for tackling this problem are reviewed: exhaustive enu-mera...
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A combinatorial auction is an auction where the bidders have the choice to bid on bundles of items. The WDP in combinatorial auctions is the problem of finding winning bids that maximize the auctioneer’s revenue under the constraint that each item can be allocated to at most one bidder. The WDP is known as an NP-hard problem with practical applications like electronic commerce, production manag...
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We propose the use of logic-based preference representation languages based on weighted propositional formulas for specifying bids in a combinatorial auction. We then develop several heuristics for a branch-and-bound search algorithm for determining the winning bids in this framework and report on their empirical performance. The logic-based approach is attractive due to its high degree of flex...
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Combinatorial auctions, that is, auctions where bidders can bid on combinations of items, tend to lead to more efficient allocations than traditional auction mechanisms in multi-item auctions where the agents’ valuations of the items are not additive. However, determining the winners so as to maximize revenue is NP-complete. First, we analyze existing approaches for tackling this problem: exhau...
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ژورنال
عنوان ژورنال: Decision Support Systems
سال: 2000
ISSN: 0167-9236
DOI: 10.1016/s0167-9236(99)00066-4