An Overview of Combinatorial Auctions
An auction is combinatorial when bidders can place bids on combinations of items, called “packages,” rather than just individual items. Computer scientists are interested in combinatorial auctions because they are concerned with the expressiveness of bidding languages, as well as the algorithmic aspects of the underlying combinatorial problem. The combinatorial problem has attracted attention from operations researchers, especially those working in combinatorial optimization and mathematical programming, who are fascinated by the idea of applying these tools to auctions. Auctions have been studied extensively by economists, of course. Thus, the newly emerging field of combinatorial auctions lies at the intersection of computer science, operations research, and economics. In this article, we present a brief introduction to combinatorial auctions, based on our book, Combinatorial Auctions (MIT Press, 2006), in which we look at combinatorial auctions from all three perspectives.
|Date of creation:||2007|
|Date of revision:||2007|
|Publication status:||Published in ACM SIGecom Exchanges, 7, 3-14, 2007|
|Contact details of provider:|| Postal: |
Phone: (202) 318-0520
Fax: (202) 318-0520
Web page: http://www.cramton.umd.edu
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Paul Klemperer, 2004.
"Auctions: Theory and Practice,"
2004-W09, Economics Group, Nuffield College, University of Oxford.
- McAfee, R Preston & McMillan, John, 1987. "Auctions and Bidding," Journal of Economic Literature, American Economic Association, vol. 25(2), pages 699-738, June.
- Lawrence M. Ausubel & Paul Milgrom, 2002.
"Ascending Auctions with Package Bidding,"
02004, Stanford University, Department of Economics.
- Peter Cramton, 2002. "Spectrum Auctions," Papers of Peter Cramton 01hte, University of Maryland, Department of Economics - Peter Cramton, revised 16 Jul 2001.
- Robert B. Wilson, 1967. "Competitive Bidding with Asymmetric Information," Management Science, INFORMS, vol. 13(11), pages 816-820, July.
- S.J. Rassenti & V.L. Smith & R.L. Bulfin, 1982. "A Combinatorial Auction Mechanism for Airport Time Slot Allocation," Bell Journal of Economics, The RAND Corporation, vol. 13(2), pages 402-417, Autumn.
- Myerson, Roger B, 1979.
"Incentive Compatibility and the Bargaining Problem,"
Econometric Society, vol. 47(1), pages 61-73, January.
- Roger B. Myerson, 1977. "Incentive Compatability and the Bargaining Problem," Discussion Papers 284, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Michael H. Rothkopf, 1969. "A Model of Rational Competitive Bidding," Management Science, INFORMS, vol. 15(7), pages 362-373, March.
- Lawrence M. Ausubel & Peter Cramton, 2004.
"Auctioning Many Divisible Goods,"
Papers of Peter Cramton
04jeea, University of Maryland, Department of Economics - Peter Cramton, revised 2004.
- Milgrom,Paul, 2004.
"Putting Auction Theory to Work,"
Cambridge University Press, number 9780521536721.
- William Vickrey, 1961. "Counterspeculation, Auctions, And Competitive Sealed Tenders," Journal of Finance, American Finance Association, vol. 16(1), pages 8-37, 03.
- Paul Milgrom & Robert J. Weber, 1981.
"A Theory of Auctions and Competitive Bidding,"
447R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
When requesting a correction, please mention this item's handle: RePEc:pcc:pccumd:07oca. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Peter Cramton)
If references are entirely missing, you can add them using this form.