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An Evolutionary Algorithm for Finding Efficient Solutions in Multi-Attribute Auctions

Author

Listed:
  • Murat Köksalan

    (Department of Industrial Engineering, Middle East Technical University, 06800 Ankara, Turkey)

  • Gülşah Karakaya

    (Department of Industrial Engineering, Middle East Technical University, 06800 Ankara, Turkey)

Abstract

There is a growing interest in electronic auctions. Many researchers consider a single-attribute, although auctions are multi-attribute in nature in practice. Addressing multiple attributes increases the difficulty of the problem substantially. We develop an evolutionary algorithm (EA) for multi-attribute multi-item reverse auctions. We try to generate the whole Pareto front using the EA. We also develop heuristic procedures to find several good initial solutions and insert those in the initial population of the EA. We test the EA on a number of randomly generated problems and report our findings.

Suggested Citation

  • Murat Köksalan & Gülşah Karakaya, 2014. "An Evolutionary Algorithm for Finding Efficient Solutions in Multi-Attribute Auctions," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 13(03), pages 649-673.
    • Handle: RePEc:wsi:ijitdm:v:13:y:2014:i:03:n:s021962201450062x
    DOI: 10.1142/S021962201450062X
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