Best-response dynamics in combinatorial auctions with item bidding

Best-Response Dynamics in Combinatorial Auctions with Item Bidding

In a combinatorial auction with item bidding, agents participate in multiple single-itemsecond-price auctions at once. As some items might be substitutes, agents need to strategize inorder to maximize their utilities. A number of results indicate that high welfare can be achievedthis way, giving bounds on the welfare at equilibrium. Recently, however, criticism has beenraise...

On Best-Response Bidding in GSP Auctions

How should players bid in keyword auctions such as those used by Google, Yahoo! and MSN? We model ad auctions as a dynamic game of incomplete information, so we can study the convergence and robustness properties of various strategies. In particular, we consider best-response bidding strategies for a repeated auction on a single keyword, where in each round, each player chooses some optimal bid...

Bidding in Combinatorial Auctions

An Optimization Framework for Combining the Petroleum Replenishment Problem with the Optimal Bidding in Combinatorial Auctions

We address in this paper a periodic petroleum station replenishment problem (PPSRP) that aims to plan the delivery of petroleum products to a set of geographically dispatched stations. It is assumed that each station is characterized by its weekly demand and by its frequency of service. The main objective of the delivery process is to minimize the total travelled distance by the vailable trucks...

Matrix Bidding in Combinatorial Auctions

In a combinational auction in which bidders can bid on any combination of goods, bid data can be of exponential size. We describe an innovative new combinatorial auction format in which bidders submit “matrix bids”. The advantage of this approach is that it provides bidders a mechanism to compactly express bids on every possible bundle. We describe many different types of preferences that can b...