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Combinatorial Auctions

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  • Vohra, Rakesh V.

Abstract

Many auctions involve the sale of heterogenous indivisible objects. Examples are wireless spectrum, delivery routes and airport time slots. Because of complementarities or substitution effects between the objects, bidders have preferences not just over individual items but over subsets of them. For this reason, economic efficiency is enhanced if bidders are allowed to bid on bundles or combinations of different assets. This chapter surveys the state of knowledge about combinatorial auctions.

Suggested Citation

  • Vohra, Rakesh V., 2015. "Combinatorial Auctions," Handbook of Game Theory with Economic Applications,, Elsevier.
    • Handle: RePEc:eee:gamchp:v:4:y:2015:i:c:p:455-476
    DOI: 10.1016/B978-0-444-53766-9.00008-2
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    References listed on IDEAS

    as
    1. de Vries, Sven & Schummer, James & Vohra, Rakesh V., 2007. "On ascending Vickrey auctions for heterogeneous objects," Journal of Economic Theory, Elsevier, vol. 132(1), pages 95-118, January.
    2. Aytek Erdil & Paul Klemperer, 2010. "A New Payment Rule for Core-Selecting Package Auctions," Journal of the European Economic Association, MIT Press, vol. 8(2-3), pages 537-547, 04-05.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Combinatorial auctions; Core; Vickrey auctions; Clock auctions; Package bids; D44; D47; D82;
    All these keywords.

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • D47 - Microeconomics - - Market Structure, Pricing, and Design - - - Market Design
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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