A Study In Combinatorial Auctions

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A Study In Combinatorial Auctions

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Author :
language : en
Publisher:
Release Date : 2004

A Study In Combinatorial Auctions written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.

By the emergence of electronic commerce and low transaction costs on the Internet, an interest in the design of new auction mechanisms has been arisen. Recently many researchers in computer science, economics, business, and game theory have presented many valuable studies on the subject of online auctions, and auctions theory. When faced from a computational perspective, combinatorial auctions are perhaps the most challenging ones. Combinatorial auctions, that is, auctions where bidders can bid on combinations of items, tend to lead to more efficient allocations than traditional auction mechanisms in multi-item multi-unit situations where the agents’ valuations of the items are not additive. However, determining the winners to maximize the revenue is NP-complete. In this study, we first analyze the existing approaches for combinatorial auction problem. Based on this analysis, we then choose three different approaches, which are search approach, descending simultaneous auctions approach, and IP (Integer Programming) formulation approach to build our models. The performances of the models are compared using computer simulations, where we model bandwidth allocation system. Finally a combinatorial auction tool is built which can be used for online auctions and e-procurement systems.

Combinatorial Auctions

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Author : Peter C. Cramton
language : en
Publisher: MIT Press (MA)
Release Date : 2006

Combinatorial Auctions written by Peter C. Cramton and has been published by MIT Press (MA) this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.

A synthesis of theoretical and practical research on combinatorial auctions from the perspectives of economics, operations research, and computer science.

Combinatorial Auctions For Procurement

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Author : Marcelo Olivares
language : en
Publisher:
Release Date : 2011

Combinatorial Auctions For Procurement written by Marcelo Olivares and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.

In this paper we conduct an empirical investigation of a large-scale combinatorial auction (CA); the Chilean auction for school meals in which the government procures half a billion dollars worth of meal services every year. Our empirical study is motivated by two fundamental aspects in the design of CAs: (1) which packages should bidders be allowed to bid on; and (2) diversifying the supplier base to promote competition. We use bidding data to uncover important aspects of the firms' cost structure and their strategic behavior, both of which are not directly observed by the auctioneer; these estimates inform the auction design. Our results indicate that package bidding that allows firms to express their cost synergies due to economies of scale and density seems appropriate. However, we also found evidence that firms can take advantage of this flexibility by discounting package bids for strategic reasons and not driven by cost synergies. Because this behavior can lead to inefficiencies, it may be worth evaluating whether to prohibit certain specific combinations in the bidding process. Our results also suggest that market share restrictions and running sequential auctions seem to promote competition in the long-run, without significantly increasing the short-run cost for the government due to unrealized cost synergies. Our results highlight that the simultaneous consideration of the firms' operational cost structure and their strategic behavior is key to the successful design of a CA. More broadly, our paper is the first to provide an econometric study of a large-scale CA, providing novel and substantive insights regarding bidding behavior in this type of auctions.

Combinatorial Auctions

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Author : Peter Cramton
language : en
Publisher:
Release Date : 2010

Combinatorial Auctions written by Peter Cramton and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.

A synthesis of theoretical and practical research on combinatorial auctions from the perspectives of economics, operations research, and computer science.

Freight Policy Economics And Logistics

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Author : National Research Council (U.S.). Transportation Research Board
language : en
Publisher:
Release Date : 2003

Freight Policy Economics And Logistics written by National Research Council (U.S.). Transportation Research Board and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Freight and freightage categories.

Journal Of The Acm

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Author :
language : en
Publisher:
Release Date : 2002

Journal Of The Acm written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Computers categories.

Resource Allocation In Competitive Multiagent Systems

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Author : Kevin Leyton-Brown
language : en
Publisher:
Release Date : 2003

Resource Allocation In Competitive Multiagent Systems written by Kevin Leyton-Brown and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.

Proceedings

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Author : American Association for Artificial Intelligence
language : en
Publisher:
Release Date : 2004

Proceedings written by American Association for Artificial Intelligence and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Computers categories.

Proceedings from the latest meeting of the leading AI conference; includes theoretical, experimental, and empirical work. The National Conference on Artificial Intelligence remains the bellwether for research in artificial intelligence. Leading AI researchers and practitioners as well as scientists and engineers in related fields present theoretical, experimental, and empirical results, covering a broad range of topics that include principles of cognition, perception, and action; the design, application, and evaluation of AI algorithms and systems; architectures and frameworks for classes of AI systems; and analyses of tasks and domains in which intelligent systems perform. The Innovative Applications of Artificial Intelligence conference highlights successful applications of AI technology; explores issues, methods, and lessons learned in the development and deployment of AI applications; and promotes an interchange of ideas between basic and applied AI. This volume presents the proceedings of the latest conferences, held in July, 2004.

Ijcai

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Author :
language : en
Publisher:
Release Date : 2007

Ijcai written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Artificial intelligence categories.

Tutorials In Operations Research

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Author : Institute for Operations Research and the Management Sciences. National Meeting
language : en
Publisher:
Release Date : 2008

Tutorials In Operations Research written by Institute for Operations Research and the Management Sciences. National Meeting and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Operations research categories.