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Published Articles >> Table of Contents >> Abstract
The 9th IEEE International Conference on E-Commerce Technology and The 4th IEEE International Conference on Enterprise Computing, E-Commerce and E-Services (CEC-EEE 2007)
pp. 13-20
Discovering Equilibrium Strategies for a Combinatorial First Price Auction
1 Wilenius, Uppsala University, Sweden
1 Andersson, Uppsala University, Sweden
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DOI Bookmark: http://doi.ieeecomputersociety.org/10.1109/CEC-EEE.2007.41
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| Abstract |
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In this paper, the unresolved and fundamental strategy problem of the first price single round sealed bid combina- torial auction is addressed. As a step toward discovering equilibrium strategies, a new heuristic based on simple and intuitive methods is presented. The heuristic is evaluated using two different independently and uniformly distributed valuationmodels, one very generalmodel where bidders bid on all combinations and one restricted model where bidders bid on one specific combination and single bids on the re- maining items. Results yield natural explainable strategies with good characteristics based on comparisons of payoff, revenue and allocative efficiency.
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 Additional Information
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Citation:
1 Wilenius, 1 Andersson,
"Discovering Equilibrium Strategies for a Combinatorial First Price Auction,"
cec-eee,
pp. 13-20,
The 9th IEEE International Conference on E-Commerce Technology and The 4th IEEE International Conference on Enterprise Computing, E-Commerce and E-Services (CEC-EEE 2007),
2007
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