Computing price trajectories in combinatorial auctions with proxy bidding

Computing price trajectories in combinatorial auctions with proxy bidding

Proxy bidding has proved useful in a variety of real auction formats, such as eBay, and has been proposed for combinatorial auctions. Previous work on proxy bidding in combinatorial auctions requires the auctioneer essentially run the auction with myopic bidders to determine the outcome. In this paper we present a radically different approach that computes the bidders’ allocation of their atten...

Bidding in Combinatorial Auctions

An Optimization Framework for Combining the Petroleum Replenishment Problem with the Optimal Bidding in Combinatorial Auctions

We address in this paper a periodic petroleum station replenishment problem (PPSRP) that aims to plan the delivery of petroleum products to a set of geographically dispatched stations. It is assumed that each station is characterized by its weekly demand and by its frequency of service. The main objective of the delivery process is to minimize the total travelled distance by the vailable trucks...

Matrix Bidding in Combinatorial Auctions

In a combinational auction in which bidders can bid on any combination of goods, bid data can be of exponential size. We describe an innovative new combinatorial auction format in which bidders submit “matrix bids”. The advantage of this approach is that it provides bidders a mechanism to compactly express bids on every possible bundle. We describe many different types of preferences that can b...

Bidding Languages for Combinatorial Auctions

Combinatorial auctions provide a valuable mechanism for the allocation of goods in settings where buyer valuations exhibit complex structure with respect to substitutabilityand complementarity. Most algorithms are designed to work with explicit bids for concrete bundles of goods. However, logical bidding languages allow the expression of complex utility functions in a natural and concise way. W...