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Introduction to Combinatorial Auctions [chapter]

Peter Cramton, Yoav Shoham, Richard Steinberg
2005 Combinatorial Auctions  
These three approaches each dramatically reduce the number of iterations needed to determine the ascending proxy outcome.  ...  In chapter 19, Leyton-Brown, Nudelman, and Shoham use CATS to predict the running times of algorithms for the winner determination problem.  ... 
doi:10.7551/mitpress/9780262033428.003.0001 fatcat:nc46sf5srvhttb23ov4d3zsk3i

An overview of combinatorial auctions

Peter Cramton, Yoav Shoham, Richard Steinberg
2007 ACM SIGecom Exchanges  
These three approaches each dramatically reduce the number of iterations needed to determine the ascending proxy outcome.  ...  In Chapter 19, Leyton-Brown, Nudelman and Shoham use CATS to evaluate the running times of algorithms for the winner determination problem.  ... 
doi:10.1145/1345037.1345039 fatcat:x7c4htwp5zgclkz4w57ifgmf5q

Spectrum Auction Design

Peter Cramton
2013 Review of Industrial Organization  
The standard approach is the simultaneous ascending auction, in which many related lots are auctioned simultaneously in a sequence of rounds.  ...  The combinatorial clock auction is a simple dynamic auction in which bidders bid on packages of lots.  ...  This rule has worked reasonably well in the FCC's simultaneous ascending auctions; but in a combinatorial clock auction with Vickrey-nearest-core pricing, we need a more complex rule: one that is based  ... 
doi:10.1007/s11151-013-9376-x fatcat:6iy2djzad5eg3editvovdnhiza

Accelerating Combinatorial Clock Auctions Using Bid Ranges

Xiaoqiu Qiu, Dirk Neumann
2014 2014 47th Hawaii International Conference on System Sciences  
Our design reduces the complexity both for the bidders and auctioneer, and is verified with computational simulations.  ...  In this paper, we introduce bid ranges, with an additional sealed-bid phase before a Combinatorial Clock auction for information elicitation.  ...  We believe that the reduced complexity makes combinatorial auctions more accessible for common applications such as finding carriers for transportation requests.  ... 
doi:10.1109/hicss.2014.38 dblp:conf/hicss/QiuN14 fatcat:4o3sgh6ipbfwjlfy5nvli4e62e

Spectrum Auction Design: Simple Auctions for Complex Sales

Martin Bichler, Jacob K. Goeree, Stefan Karl Mayer, Pasha Shabalin
2013 Social Science Research Network  
We consider these design choices both for ascending and sealed-bid formats.  ...  The currently popular combinatorial clock auction, which uses a complex bid language and payment rule, achieves the lowest efficiency and revenue among all treatment combinations.  ...  This way, the number 45 1 A single stage combinatorial clock auction has been proposed in [7] . Such a single-stage ascending clock auction format was used in Nigeria [8], for example.  ... 
doi:10.2139/ssrn.2302649 fatcat:dqhcgnghkrhlzpsl6pdzwjdksm

Combinatorial clock auctions: Price direction and performance

David R. Munro, Stephen J. Rassenti
2019 Games and Economic Behavior  
This paper addresses three concerns with ascending price Combinatorial Clock Auctions (CCAs); price guidance toward efficiency relevant packages, computational burden, and susceptibility to collusive bidding  ...  We propose a descending price Combinatorial Clock Auction (DCCA) with a newly devised pricing strategy to alleviate all of these concerns.  ...  Summary of Conclusions Iterative clock auctions provide useful price feedback for bidders in complex combinatorial environments.  ... 
doi:10.1016/j.geb.2019.07.001 fatcat:4dbwnqxu7zblbggqfisjw4z67e

Comparing multiagent systems research in combinatorial auctions and voting

Vincent Conitzer
2010 Annals of Mathematics and Artificial Intelligence  
In a combinatorial auction, a set of resources is for sale, and agents can bid on subsets of these resources.  ...  In a voting setting, the agents decide among a set of alternatives by having each agent rank all the alternatives. Many of the key research issues in these two domains are similar.  ...  For other bidding languages, the complexity of the winner determination problem may be different.  ... 
doi:10.1007/s10472-010-9205-y fatcat:7tbreanrrrhmjjorivhzzaow6a

Combinatorial Auction Design

Aleksandar Pekeč, Michael H. Rothkopf
2003 Management science  
C ombinatorial auctions have two features that greatly affect their design: computational complexity of winner determination and opportunities for cooperation among competitors.  ...  Combinatorial auction designs include single-round, first-price sealed bidding, Vickrey-Clarke-Groves (VCG) mechanisms, uniform and market-clearing price auctions, and iterative combinatorial auctions.  ...  Coping with Computational Complexity The computational complexity of winner determination in combinatorial auctions is not an incidental topic.  ... 
doi:10.1287/mnsc.49.11.1485.20585 fatcat:6zon76plyfbdfbi6lutpi2ok6i

The Landscape of Electronic Market Design

G. Anandalingam, Robert W. Day, S. Raghavan
2005 Management science  
The -hardness of the winner-determination problem opens the door for an algorithmic approach to combinatorial auctions.  ...  In the FCC auction-design debate of the early 1990s, it was determined that a "combinatorial" or "package bid" auction should not be considered because the general combinatorial auction winner-determination  ... 
doi:10.1287/mnsc.1040.0345 fatcat:5cp7d3fgs5hnbl77kgtnhedhhm

Taming the Computational Complexity of Combinatorial Auctions: Optimal and Approximate Approaches

Yuzo Fujishima, Kevin Leyton-Brown, Yoav Shoham
1999 International Joint Conference on Artificial Intelligence  
In combinatorial auctions, multiple goods are sold simultaneously and bidders may bid for arbitrary combinations of goods.  ...  It sets up a virtual multi-round auction in which a virtual agent represents each original bid bundle and places bids, according to a fixed strategy, for each good in that bundle.  ...  In this paper we address the computational complexity of combinatorial auctions. 2 The complexity problem There has been much work in economics and game theory on designing combinatorial auctions.  ... 
dblp:conf/ijcai/FujishimaLS99 fatcat:fzxieitxdbdz7ikmqacvfd7y5e

Combinatorial auctions

Jawad Abrache, Teodor Gabriel Crainic, Michel Gendreau, Monia Rekik
2007 Annals of Operations Research  
In this paper, we discuss several complex issues that are encountered in the design of combinatorial auctions.  ...  These issues are related to the formulation of the winner determination problem, the expression of combined bids, the design of progressive combinatorial auctions that require less information revelation  ...  The basic winner determination formulations have already been studied in the literature on combinatorial auctions.  ... 
doi:10.1007/s10479-007-0179-z fatcat:dt2oav6acjesjcdfbqz3526dqa

The Continuous Combinatorial Auction Architecture

Charles. R. Plott, Hsing-Yang Lee, Travis Maron
2014 The American Economic Review  
The first example of a continuous combinatorial auction is found in Brewer and Plott (1996) , who represented the allocation problem in terms of binary confects of packages that created both the flexibility  ...  for widespread application and the computational speed required  ...  In the 1990s, the FCC was considering the adoption of a combinatorial auction as a replacement for the simultaneous, rounds-based, ascending price auction that the FCC had used to auction parts of the  ... 
doi:10.1257/aer.104.5.452 fatcat:w2jlvggtnrhwvpix4gkuz6y7iy

Auctions and bidding

Simon Parsons, Juan A. Rodriguez-Aguilar, Mark Klein
2011 ACM Computing Surveys  
In addition, since auctions are an increasingly important topic in computer science, we also look at work on auctions from the computer science literature.  ...  and to provide pointers into the economics literature for those who want a deeper technical understanding.  ...  This work began when SP and JAR worked at the Center for Coordination Science at MIT -we both learnt a lot in our time there.  ... 
doi:10.1145/1883612.1883617 fatcat:5lupctonfzcl5ndw5vo3lrwgnm

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.  ...  Combinatorial auctions (CAs) have recently generated significant interest as an automated mechanism for buying and selling bundles of goods.  ...  Sandholm [84] provides a good summary of winner determination algorithms for combinatorial auctions.  ... 
doi:10.1007/bf02706244 fatcat:2ogs3gof4zfqzdqdwzw5t3myli

Iterative Combinatorial Auctions [chapter]

David C. Parkes
2005 Combinatorial Auctions  
Formal convergence properties have not been proved for RAD or AkBA, although RAD reduces to a simultaneous ascending price auction for substitutes valuations.  ...  However, continuous combinatorial auctions can be infeasible because the winner-determination problem must be resolved whenever a new bid is submitted.  ... 
doi:10.7551/mitpress/9780262033428.003.0003 fatcat:idwce6c7fnf23fam3sdifjg2gi
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