BOB: Improved winner determination in combinatorial auctions and generalizations

BOB: Improved winner determination in combinatorial auctions and generalizations

Combinatorial auctions can be used to reach efficient resource and task allocations in multiagent systems where the items are complementary or substitutable. Determining the winners is NPcomplete and inapproximable, but it was recently shown that optimal search algorithms do very well on average. This paper presents a more sophisticated search algorithm for optimal (and anytime) winner determin...

BOB: Improved Winner Determination in Combinatorial Au tions and Generalizations

Improved Algorithms for Optimal Winner Determination in Combinatorial Auctions and Generalizations

Combinatorial auctions can be used to reach efficient resource and task allocations in multiagent systems where the items are complementary. Determining the winners is NP-complete and inapproximable, but it was recently shown that optimal search algorithms do very well on average. This paper presents a more sophisticated search algorithm for optimal (and anytime) winner determination, including...

Winner Determination in Combinatorial Auctions using Hybrid Ant Colony Optimization and Multi-Neighborhood Local Search

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...

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...