Equilibria of Greedy Combinatorial Auctions

A Equilibria of Greedy Combinatorial Auctions

We consider auctions in which greedy algorithms, paired with first-price or critical-price payment rules, are used to resolve multi-parameter combinatorial allocation problems. We study the price of anarchy for social welfare in such auctions. We show for a variety of equilibrium concepts, including Bayes-Nash equilibrium, low-regret bidding sequences, and asynchronous best-response dynamics, t...

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...

Greedy Approximation via Duality for Packing, Combinatorial Auctions and Routing

We study simple greedy approximation algorithms for general class of integer packing problems. We provide a novel analysis based on the duality theory of linear programming. This enables to significantly improve on the approximation ratios of these greedy methods, and gives a unified analysis of greedy for many packing problems. We show matching lower bounds on the ratios of such greedy methods...

Polynomial algorithms for clearing multi-unit single-item and multi-unit combinatorial reverse auctions

This paper develops new algorithms for clearing multiunit single-item and multi-unit combinatorial reverse auctions. Specifically, we consider settings where bids are submitted in the form of a supply function and the auctions have sub-additive pricing with free disposal. Our algorithms are based on a greedy strategy and we show that they are of polynomial complexity. Furthermore, we show that ...

Parallel Greedy Approximation on Large-Scale Combinatorial Auctions