Combinatorial auctions

Combinatorial auctions

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Article ID: iaor20082826
Country: Netherlands
Volume: 153
Issue: 1
Start Page Number: 131
End Page Number: 164
Publication Date: Sep 2007
Journal: Annals of Operations Research
Authors: , , ,
Keywords: auctions
Abstract:

Combinatorial auctions are an important class of market mechanisms in which participants are allowed to bid on bundles of multiple heterogeneous items. 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, and the need for decision support tools to help participants make profitable bidding decisions. For each issue, we survey the existing literature and propose avenues for further research.

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