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The Cost of Simple Bidding in Combinatorial Auctions
[article]
2021
arXiv
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We study a class of manipulations in combinatorial auctions where bidders fundamentally misrepresent what goods they are interested in. ...
However, we show that there exists an entire class of auction instances for which simple bids are never optimal in Bayes-Nash equilibrium, always being strictly dominated by complex bids (where bidders ...
In this auction, a bidder wants to sell two goods for which she has linear costs (the cost of producing both goods is the sum of individual costs), but makes a combinatorial bid that offers a bundle discount ...
arXiv:2011.12237v3
fatcat:gc5y2dutwnf6lb5yesb4ucevq4
Combinatorial Auctions for Transportation Service Procurement: The Carrier Perspective
2003
Transportation Research Record
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This method of awarding contracts, conventionally called a combinatorial auction, has been reported to result in significant cost savings for shippers. ...
This process is similar to a simple sealed-bid auction in which each bidder submits a sealed bid for a single item. ...
are lower in combinatorial auctions than in simple sequential auctions. ...
doi:10.3141/1833-06
fatcat:cglcpfraafbyxft7ofy6pzvh4i
On-line Multi-attributes Procurement Combinatorial Auctions Bidding Strategies
[chapter]
2005
Lecture Notes in Computer Science
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There are two kinds of bidders: n simple bidders and m diverse bidders considered in this model. ...
Based on the work of Krishna and Rosenthal (1996) about combinatorial auctions bidding equilibrium analysis and Che's (1993) research about one-unit multi-attributes auctions, we construct a multi-attributes ...
Acknowledgements This paper was partly supported by National Science Foundation of China under grant 70231010 and 70321001. ...
doi:10.1007/11428862_79
fatcat:zqoo7w2gcrh57euy7jiavkgpwm
An Analysis of Design Problems in Combinatorial Procurement Auctions
2009
Business & Information Systems Engineering
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A number of fundamental design considerations are relevant to the application of combinatorial auctions in procurement. ...
Potential advantages of using combinatorial auctions include lower overall spend, low transaction costs for multi-item negotiations, fairness and market transparency for suppliers as well as high allocative ...
In comparison, English auctions have a simple dominant strategy of bidding down to the true cost, and then win or drop out of the auction. ...
doi:10.1007/s12599-008-0014-3
fatcat:65xt6jjbt5a5rpziwrpgckxu2u
Combinatorial auctions for supply chain formation
2000
Proceedings of the 2nd ACM conference on Electronic commerce - EC '00
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A one-shot combinatorial auction that optimizes the reported value of the bids results in optimal allocations with truthful bids. ...
We investigate a particular combinatorial protocol consisting of a one-shot auction and a strategic bidding policy. ...
Acknowledgments We thank Daniel Reeves for helping establish the connection between the bidding policy and Bayes-Nash equilibrium, and David Parkes for constructive comments. ...
doi:10.1145/352871.352900
dblp:conf/sigecom/WalshWY00
fatcat:cypmq4i2djec3ahll4ctn6umeq
Tractable combinatorial auctions and b-matching
2002
Artificial Intelligence
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Combinatorial auctions are auctions where agents may submit bids for bundles of goods. ...
In this work we expose the use of b-matching techniques in the context of combinatorial auctions, and apply them in a non-trivial manner in order to introduce polynomial solutions for a variety of combinatorial ...
simple instances of combinatorial network auctions, where the network is a simple path. ...
doi:10.1016/s0004-3702(02)00229-1
fatcat:hpxkav6kyvcwhdysrp4lqbdh7a
Simplified Bidding and Solution Methodology for Truckload Procurement and Other Vcg Combinatorial Auctions
2007
Social Science Research Network
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For example, the cost to a trucking company of servicing a bundle of loads is based on the least-cost set of tours covering all of these loads, which can be found by solving a simple minimum cost flow ...
(We review related combinatorial auctions literature in the next section.) ...
Acknowledgments The authors would like to thank the Tauber Institute for Global Operations (formerly Tauber Manufacturing Institute) at the University of Michigan for initiating this project via their ...
doi:10.2139/ssrn.904651
fatcat:hm7za7thkjamvphvbl4bfyb36y
Do Combinatorial Procurement Auctions Lower Cost? - An Empirical Analysis of Public Procurement of Multiple Contracts
2011
Social Science Research Network
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lower than the corresponding stand-alone bids in combinatorial auctions. ...
Using data from standard and combinatorial procurement auctions, we find that bids on individual contracts in simultaneous standard auctions without the option to submit package bids are significantly ...
Chernomaz and Levin (2011) analyze a simple bidding environment in a first-price sealed bid model where a single item is auctioned off in each of two markets. ...
doi:10.2139/ssrn.1815044
fatcat:44k4gis3qfc63lpxyf2tm45ruy
BIDS AND COSTS IN COMBINATORIAL AND NONCOMBINATORIAL PROCUREMENT AUCTIONS-EVIDENCE FROM PROCUREMENT OF PUBLIC CLEANING CONTRACTS
2012
Contemporary economic policy
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lower than the corresponding stand-alone bids in combinatorial auctions. ...
Using data from standard and combinatorial procurement auctions, we find that bids on individual contracts in simultaneous standard auctions without the option to submit package bids are significantly ...
Chernomaz and Levin (2011) analyze a simple bidding environment in a first-price sealed bid model where a single item is auctioned off in each of two markets. ...
doi:10.1111/j.1465-7287.2012.00317.x
fatcat:gjj26c336zbc5oowhqwewfcdia
Combinatorial Auction Design
2003
Management science
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, and by limiting the use of combinatorial bids. ...
Computational complexity can be dealt with algorithmically by relegating the computational burden to bidders, by maintaining fairness in the face of computational limitations, by limiting biddable combinations ...
Acknowledgments The authors wish to acknowledge helpful and extensive comments from the special issue editors, an associated editor, and three referees. ...
doi:10.1287/mnsc.49.11.1485.20585
fatcat:6zon76plyfbdfbi6lutpi2ok6i
Approximation algorithms for the bid construction problem in combinatorial auctions for the procurement of freight transportation contracts
2005
Transportation Research Part B: Methodological
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The bid valuation and construction problem for carriers facing these combinatorial auctions is very difficult and involves the computation of a number of NP-hard sub problems. ...
The benefit of our approximation method is that it provides a way for carriers to discover their true costs and construct optimal or near optimal bids by solving a single NP-hard problem. ...
Any opinions, findings and conclusions or recommendations expressed in this paper are those of the authors and do not necessarily reflect the views of the UCTC or the NSF. ...
doi:10.1016/j.trb.2004.11.003
fatcat:z5pny6x46rcsbiyrkvpth46h4y
Industrial Procurement Auctions
[chapter]
2005
Combinatorial Auctions
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Acknowledgments We would like to thank Arne Anderson, John Ledyard, Tuomas Sandholm and the anonymous reviewers for their valuable input to this chapter. ...
Often combinatorial auctions have led to high reductions in procurement costs. Some part of these reductions may accrue by using a small number of low cost suppliers. ...
Apart from simple package bids, purchasing managers use multi-attribute bids, volume discount bids, and combinations of all three. ...
doi:10.7551/mitpress/9780262033428.003.0024
fatcat:cab674g7o5cilplkzmed6iyyrq
A Preliminary Experimental Analysis on Combinatorial Auction-Based Electric Power Allocation for Manufacturing Industries
2012
2012 IEEE/WIC/ACM International Conferences on Web Intelligence and Intelligent Agent Technology
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We present a preliminary idea about applying multi-unit combinatorial auctions to an electric power allocation problem that considers guaranteeing stable continuous use of the supplied power in industrial ...
of production and the use of electricity in a day, guaranteeing stable continuous use of them. ...
Therefore, when we use OR-bid representation, a multi-unit combinatorial auction problem can be transformed into a simple single-unit combinatorial auction problem. ...
doi:10.1109/wi-iat.2012.221
dblp:conf/iat/FukutaI12
fatcat:xsglm4plhncjbkgzocve3spkkq
Free Riding in Combinatorial First-Price Sealed-Bid Auctions
2009
The B.E. Journal of Theoretical Economics
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We consider an allotted procurement contract awarded by means of a combinatorial first-price sealed-bid auction. The contract involves two lots, and two small firms and a larger firm are competing. ...
Assuming that bidders' prior beliefs follow the "average opinion rule", we derive the asymmetric combinatorial equilibrium bidding strategies and show that they exhibit a free-riding effect which has some ...
Then we turn to the analysis of the combinatorial auction and derive the bidding strategies in such a context. ...
doi:10.2202/1935-1704.1552
fatcat:tadyvlyaynhxlem3xb4t7xm3fe
Combinatorial Bid Generation Problem for Transportation Service Procurement
2005
Transportation Research Record
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In combinatorial auctions, solving the bid generation problem (BGP) for bidders is critical to achieving efficiency. ...
However, in the recent surge of combinatorial auction research, little attention has been paid to the BGP. In this paper, the BGP faced by transportation service providers is studied. ...
ACKNOWLEDGMENTS The first author is grateful to Jiongjiong Song for sending his papers in press. Both authors express their appreciation to Dash Optimizations for generous software support. ...
doi:10.3141/1923-20
fatcat:jgbiadzg75durmos4l26zvcpxi
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