Vidal's libraryTitle: | An Efficient Approximate Allocation Algorithm for Combinatorial Auctions |
Author: | Edo Zurel and Noam Nisan |
Book Tittle: | Proceedings of the ACM Conference on Electronic Commerce |
Year: | 2001 |
Abstract: | We propose a heuristic for allocation in combinatorial auctions. We first run an approximation algorithm on the linear programming relaxation of the combinatorial auction. We then run a sequence of greedy algorithms, starting with the order on the bids determined by the approximate linear program and continuing in a hill-climbing fashion using local improvements in the order of bids. We have implemented the algorithm and have tested it on the complete corpus of instances provided by Vohra and de Vries as well as on instances drawn from the distributions of Leyton-Brown, Pearson, and Shoham. Our algorithm typically runs two to three orders of magnitude faster than the reported running times of Vohra and de Vries, while achieving an average approximation error of less than 1%. This algorithm can provide, in less than a minute of CPU time, excellent solutions for problems with over 1000 items and 10,000 bids. We thus believe that combinatorial auctions for most purposes face no practical computational hurdles. |
Cited by 47 - Google Scholar
@InProceedings{zurel01a,
author = {Edo Zurel and Noam Nisan},
title = {An Efficient Approximate Allocation Algorithm for
Combinatorial Auctions},
googleid = {bRf21Waeh68J:scholar.google.com/},
booktitle = {Proceedings of the {ACM} Conference on Electronic
Commerce},
year = 2001,
abstract = {We propose a heuristic for allocation in
combinatorial auctions. We first run an
approximation algorithm on the linear programming
relaxation of the combinatorial auction. We then run
a sequence of greedy algorithms, starting with the
order on the bids determined by the approximate
linear program and continuing in a hill-climbing
fashion using local improvements in the order of
bids. We have implemented the algorithm and have
tested it on the complete corpus of instances
provided by Vohra and de Vries as well as on
instances drawn from the distributions of
Leyton-Brown, Pearson, and Shoham. Our algorithm
typically runs two to three orders of magnitude
faster than the reported running times of Vohra and
de Vries, while achieving an average approximation
error of less than 1\%. This algorithm can provide,
in less than a minute of CPU time, excellent
solutions for problems with over 1000 items and
10,000 bids. We thus believe that combinatorial
auctions for most purposes face no practical
computational hurdles.},
keywords = {combinatorial auctions},
url = {http://jmvidal.cse.sc.edu/library/zurel01a.pdf},
cluster = {12648252243006855021},
}
Last modified: Wed Mar 9 10:15:10 EST 2011