Vidal's libraryTitle: | Partial-revelation VCG mechanism for combinatorial auctions |
Author: | Wolfram Conen and Tuomas Sandholm |
Book Tittle: | Proceedings of the National Conference on Artificial Intelligence |
Pages: | 367--372 |
Year: | 2002 |
Abstract: | Winner determination in combinatorial auctions has received significant interest in the AI community in the last 3 years. Another difficult problem in combinatorial auctions is that of eliciting the bidders' preferences. We introduce a progressive, partial-revelation mechanism that determines an efficient allocation and the Vickrey payments. The mechanism is based on a family of algorithms that explore the natural lattice structure of the bidders' combined preferences. The mechanism elicits utilities in a natural sequence, and aims at keeping the amount of elicited information and the effort to compute the information minimal. We present analytical results on the amount of elicitation. We show that no valuequerying algorithm that is constrained to querying feasible bundles can save more elicitation than one of our algorithms. We also show that one of our algorithms can determine the Vickrey payments as a costless by-product of determining an optimal allocation. |
Cited by 47 - Google Scholar
@InProceedings{conen02a,
author = {Wolfram Conen and Tuomas Sandholm},
title = {Partial-revelation {VCG} mechanism for combinatorial
auctions},
booktitle = {Proceedings of the National Conference on Artificial
Intelligence},
pages = {367--372},
year = 2002,
abstract = {Winner determination in combinatorial auctions has
received significant interest in the AI community in
the last 3 years. Another difficult problem in
combinatorial auctions is that of eliciting the
bidders' preferences. We introduce a progressive,
partial-revelation mechanism that determines an
efficient allocation and the Vickrey payments. The
mechanism is based on a family of algorithms that
explore the natural lattice structure of the
bidders' combined preferences. The mechanism elicits
utilities in a natural sequence, and aims at keeping
the amount of elicited information and the effort to
compute the information minimal. We present
analytical results on the amount of elicitation. We
show that no valuequerying algorithm that is
constrained to querying feasible bundles can save
more elicitation than one of our algorithms. We also
show that one of our algorithms can determine the
Vickrey payments as a costless by-product of
determining an optimal allocation.},
url = {http://jmvidal.cse.sc.edu/library/conen02a.pdf},
keywords = {auctions},
cluster = {17961555476411548930}
}
Last modified: Wed Mar 9 10:15:39 EST 2011