Combinatorial Auctions PDF ePub eBook

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Combinatorial Auctions free pdf With a foreword by Vernon L. Smith, recipient of the 2002 Nobel Prize in Economics. The study of combinatorial auctions -- auctions in which bidders can bid on combinations of items or "packages" -- draws on the disciplines of economics, operations research, and computer science. This landmark collection integrates these three perspectives, offering a state-of-the art survey of developments in combinatorial auction theory and practice by leaders in the field. Combinatorial auctions (CAs), by allowing bidders to express their preferences more fully, can lead to improved economic efficiency and greater auction revenues. However, challenges arise in both design and implementation. Combinatorial Auctions addresses each of these challenges. After describing and analyzing various CA mechanisms, the book addresses bidding languages and questions of efficiency. Possible strategies for solving the computationally intractable problem of how to compute the objective-maximizing allocation (known as the winner determination problem) are considered, as are questions of how to test alternative algorithms. The book discusses five important applications of CAs: spectrum auctions, airport takeoff and landing slots, procurement of freight transportation services, the London bus routes market, and industrial procurement. This unique collection makes recent work in CAs available to a broad audience of researchers and practitioners. The integration of work from the three disciplines underlying CAs, using a common language throughout, serves to advance the field in theory and practice.

About Peter Cramton

Peter Cramton is Professor of Economics at the University of Maryland. Yoav Shoham is Professor of Computer Science at Stanford University. Richard Steinberg is Chair in Operations Research, London School of Economics.

Details Book

Author : Peter Cramton
Publisher : MIT Press
Data Published : 10 January 2006
ISBN : 0262033429
EAN : 9780262033428
Format Book : PDF, Epub, DOCx, TXT
Number of Pages : 672 pages
Age + : 15 years
Language : English
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