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A Game Theoretical Approach for Solving Winner Determination Problems

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  • Chen-Kun Tsung
  • Hann-Jang Ho
  • Sing-Ling Lee

Abstract

Determining the winners in combinatorial auctions to maximize the auctioneer's revenue is an NP-complete problem. Computing an optimal solution requires huge computation time in some instances. In this paper, we apply three concepts of the game theory to design an approximation algorithm: the stability of the Nash equilibrium, the self-learning of the evolutionary game, and the mistake making of the trembling hand assumption. According to our simulation results, the proposed algorithm produces near-optimal solutions in terms of the auctioneer's revenue. Moreover, reasonable computation time is another advantage of applying the proposed algorithm to the real-world services.

Suggested Citation

  • Chen-Kun Tsung & Hann-Jang Ho & Sing-Ling Lee, 2014. "A Game Theoretical Approach for Solving Winner Determination Problems," Journal of Applied Mathematics, Hindawi, vol. 2014, pages 1-10, February.
    • Handle: RePEc:hin:jnljam:845071
    DOI: 10.1155/2014/845071
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