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Multi-item Vickrey–Dutch auctions

Debasis Mishra, David C. Parkes
2009 Games and Economic Behavior  
Our auctions are designed using the notion of universal competitive equilibrium (UCE) prices and they terminate with UCE prices, from which the Vickrey payments can be determined.  ...  In this paper, we introduce ex post efficient descending auctions for two environments: multiple non-identical items and buyers with unit-demand valuations; and multiple identical items and buyers with  ...  " auctions for multi-unit and multi-item environments that retain the speed and elicitation advantages that descending price auctions can enjoy over ascending price auctions, while inheriting the robust  ... 
doi:10.1016/j.geb.2008.04.007 fatcat:66vibyxqivafrnd7ikr67ivcby

Iterative Dutch combinatorial auctions

Shantanu Biswas, Y. Narahari
2005 Annals of Mathematics and Artificial Intelligence  
We use the set packing and set covering formulations to suggest novel iterative Dutch auction algorithms for combinatorial auction problems.  ...  We use generalized Vickrey auctions (GVA) with reserve prices in each iteration. We derive worst case bounds for these algorithms.  ...  Classical Dutch auctions (Wolfstetter, 1999) which are decreasing price auctions have been proposed for both single item and multi-unit homogeneous items.  ... 
doi:10.1007/s10472-005-4687-8 fatcat:emwf3gu2yjeuhoebmd5uez4mzm

Service Allocation in Selfish Mobile Ad hoc Networks Using Vickrey Auction [chapter]

Jinshan Liu, Valérie Issarny
2004 Lecture Notes in Computer Science  
This paper applies distributed algorithmic mechanism design and utilizes Vickrey auction for service allocation in mobile ad hoc networks.  ...  auction and characteristics of MANET.  ...  Thus, Auction Type Communication Com- plexity Existence of Dominant Strategy Optimal Item Allocation English Auction Multi-Round Yes Yes First-price, Sealed Auction One-Round No No Dutch  ... 
doi:10.1007/978-3-540-30192-9_38 fatcat:gcsmacqw3ja3hjg5ed2u3stccm

Adapting Price Negotiations to an E-commerce System Scenario

Marcin Paprzycki, Maria Ganzha
2007 6th International Conference on Computer Information Systems and Industrial Management Applications (CISIM'07)  
Multi-item Dutch auction In a multi-item Dutch auction a single seller attempts at selling N units of product (P) to multiple buy- [ at a price equal to the current bid.  ...  Next, we discuss our conceptualization of (1) single-item English and Dutch auctions, (2) multi-item Dutch auction, and (3) sealed bid auctions.  ... 
doi:10.1109/cisim.2007.8 dblp:conf/cisim/PaprzyckiG07 fatcat:sneapv35o5bddgpefpiaojljia

Auctions with Arbitrary Deals [chapter]

Tamás Máhr, Mathijs de Weerdt
2007 Lecture Notes in Computer Science  
We propose a modified Vickrey auction based only on preferences over the possible bids.  ...  An auction may be a faster, but existing auction models cannot cope with situations where money is not an issue, or where it is difficult to express the utility of all participants in a monetary domain  ...  Recent research on multi-attribute auctions includes the work of Parkes and Kalagnanam [7] , who have introduced iterative mechanisms for multi-attribute Vickrey auctions with pseudo-linear and non-linear  ... 
doi:10.1007/978-3-540-74481-8_5 fatcat:3bgbtqkuffhmvetdehbsx5tmn4

Time bounds for iterative auctions: A unified approach by discrete convex analysis

Kazuo Murota, Akiyoshi Shioura, Zaifu Yang
2016 Discrete Optimization  
Our results extend and unify the price adjustment algorithms for the multi-unit auction model and for the unit-demand auction model, offering computational complexity results for these algorithms, and  ...  reinforcing the connection between auction theory and discrete convex analysis.  ...  [10] , Vickrey-Dutch auction by Mishra and Parkes [18] , and Vickrey-English-Dutch auction by Andersson and Erlanson [3] .  ... 
doi:10.1016/j.disopt.2016.01.001 fatcat:xozy3srcd5ajdcq7wehv6mfgiy

Thirteen Reasons Why the Vickrey-Clarke-Groves Process Is Not Practical

Michael H. Rothkopf
2007 Operations Research  
In theory, the mathematically elegant Vickrey-Clarke-Groves process offers perfect efficiency with dominant truth-revealing strategies. However, it has many serious practical problems.  ...  Vickrey auctions are relatively susceptible to two different kinds of cheating, and multi-item VCG processes are susceptible to two more kinds. 11 First of all, as Robinson (1985) pointed out and on  ...  Neither values any smaller aggregation of items. In the honestly conducted Vickrey auction, bidder 2 will win all three items and pay $2.  ... 
doi:10.1287/opre.1070.0384 fatcat:6fjcmrbsfnecvkvplclu5dsyde

Bidders with hard valuation problems

Kate Larson, Tuomas Sandholm
2002 Proceedings of the first international joint conference on Autonomous agents and multiagent systems part 1 - AAMAS '02  
In this paper we study optimal strategies for computationally limited agents, where agents must use their limited computing resources to determine valuations for (bundles of) the items being auctioned.  ...  The deliberation actions are incorporated into the agents' strategies and different auction settings (both single-item and combinatorial) are analyzed in order to determine equilibrium strategies.  ...  We present the concept of strategic computing, and analyze four classical single-item auction mechanism and one multi-item auction to determine under what circumstances strategic computing will occur in  ... 
doi:10.1145/544772.544777 fatcat:jwwzpzrrpffc7fktzzcvrllkr4

PASTRAMI: Privacy-preserving, Auditable, Scalable Trustworthy Auctions for Multiple Items [article]

Michał Król, Alberto Sonnino, Argyrios Tasiopoulos, Ioannis Psaras, Etienne Rivière
2020 arXiv   pre-print
We present PASTRAMI, a decentralised platform enabling trustworthy assignments of items and prices between a large number of sellers and bidders, through the support of multi-item auctions.  ...  We use the Multi-Item Unit Demand Vickrey-Dutch Auction (VDA) [41, 42] as the underlying auction of PASTRAMI 5 .  ...  PASTRAMI employs the Vickrey-Dutch multiitem auction algorithm, but can be adapted to different types of single-item, multi-item and even combinatorial auctions.  ... 
arXiv:2004.06403v3 fatcat:saeyrp7hwzbv7kyqss4yxuf2lq

Online Auctions [chapter]

Ravi Bapna, Alok Gupta
2001 The E-Business Handbook  
Consider the applicability of this assumption to common single item online auctions such as the ones conducted on eBay. Note, eBay's multi-item Dutch auction are discussed in the next subsection.  ...  Of late there is evidence of research spawning in multi-item auctions.  ... 
doi:10.1201/9781420025477.ch5 fatcat:svh6s64dsrcfhhqpaffebvun2i

PASTRAMI

Michal Król, Alberto Sonnino, Argyrios Tasiopoulos, Ioannis Psaras, Etienne Rivière
2020 Proceedings of the 21st International Middleware Conference  
We present PASTRAMI, a decentralised platform enabling trustworthy assignments of items and prices between a large number of sellers and bidders, through the support of multiitem auctions.  ...  We use the Multi-Item Unit Demand Vickrey-Dutch Auction (VDA) [41, 42] as the underlying auction of PASTRAMI 5 .  ...  PASTRAMI employs the Vickrey-Dutch multiitem auction algorithm, but can be adapted to different types of single-item, multi-item and even combinatorial auctions.  ... 
doi:10.1145/3423211.3425669 fatcat:bsdr5ngotjeozkqt4ze3hv6gpu

Multi-attribute auctions with different types of attributes: Enacting properties in multi-attribute auctions

Albert Pla, Beatriz López, Javier Murillo, Nicolas Maudet
2014 Expert systems with applications  
According to this classification we present VMA2, a new Vickrey-based reverse multi-attribute auction mechanism which, taking into account the different types of attributes involved in the auction, allows  ...  Multi-attribute auctions allow agents to sell and purchase goods and services taking into account more attributes besides the price (e.g. service time, tolerances, qualities, etc.).  ...  A typical example of these kind of auctions are English and Dutch auctions.  ... 
doi:10.1016/j.eswa.2014.02.023 fatcat:awbamu4wcnagdnrym7l2x6pbti

Single-unit and multi-unit auction framework for peer-to-peer transactions

Daniel Teixeira, Luís Gomes, Zita Vale
2021 International Journal of Electrical Power & Energy Systems  
In this paper, it is proposed a framework to test, and validate, using a real environment, single-and multi-unit peer-to-peer auctions.  ...  It is also proposed six lightweight fully distributed peer-to-peer auction models, avoiding the need for a central operator.  ...  A single-unit and multi-unit auction framework was proposed, considering six P2P models based on the English, Dutch, Vickrey, and Blind single-unit auctions, and on the discriminatory-price and uniform-price  ... 
doi:10.1016/j.ijepes.2021.107235 fatcat:e67pfm4bwrcaljv4tyyf7a2d2u

Auctions — the Big Winner Among Trading Mechanisms for the Internet Economy [chapter]

R. Müller
2001 Lectures in E-Commerce  
We show how multi-item auction mechanisms can benefit from a synthesis of microeconomic and mathematical optimization models.  ...  Our analysis starts with simple single-item auctions, as we can see them in many B2C markets. We then look at the more complex auction designs, which are necessary for B2B markets.  ...  For multi-item auctions the Vickrey-Clarke-Groves mechanism (Clarke, 1971 , Groves, 1973 , which is frequently also called the Generalized Vickrey Auction, is an auction design that satisfies truth revealing  ... 
doi:10.1007/978-3-7091-6213-2_6 fatcat:hbbyu7szlber7lpff3acpkpxia

Combinatorial auctions for electronic business

Y. Narahari, Pankaj Dayama
2005 Sadhana (Bangalore)  
In this article, we introduce combinatorial auctions and bring out important issues in the design of combinatorial auctions.  ...  This survey emphasizes combinatorial auctions as applied to electronic business situations.  ...  Other phrases for multi-item auctions are: combinatorial auctions, multi-object auctions, multigoods auctions, package auctions, and bundle auctions.  ... 
doi:10.1007/bf02706244 fatcat:2ogs3gof4zfqzdqdwzw5t3myli
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