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Very‐Large‐Scale Generalized Combinatorial Multi‐Attribute Auctions: Lessons from Conducting $60 Billion of Sourcing

Tuomas Sandholm

in The Handbook of Market Design

Published in print:
2013
Published Online:
January 2014
ISBN:
9780199570515
eISBN:
9780191765957
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199570515.003.0017
Subject:
Economics and Finance, Financial Economics

Sourcing is the process by which companies acquire goods and services for their operations. Drawing from personal experiences of designing and fielding over 800 sourcing auctions worth over $60 ... More


Industrial Procurement Auctions

Martin Bichler, Andrew Davenport, Gail Hohner, and Jayant Kalagnanam

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0024
Subject:
Society and Culture, Technology and Society

This chapter discusses the current practices being applied while using the combinatorial auctions (CAs) format for industrial procurement. It begins with a discussion of industrial procurement ... More


Iterative Combinatorial Auctions

David C. Parkes

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0003
Subject:
Society and Culture, Technology and Society

This chapter offers information on iterative combinatorial auctions (CAs) that help in solving the problem of costly preference elicitation that arises due to the hard problem of winner ... More


Introduction to Combinatorial Auctions

Peter Cramton, Yoav Shoham, and Richard Steinberg

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0001
Subject:
Society and Culture, Technology and Society

This book presents an integrated, comprehensive, and interdisciplinary study of combinatorial auctions (CA) in which bids are accepted for packages of items. Applications of CA in various industries ... More


Noncomputational Approaches to Mitigating Computational Problems in Combinatorial Auctions

Aleksandar Pekeč and Michael H. Rothkopf

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0017
Subject:
Society and Culture, Technology and Society

This chapter discusses a variety of ways that can be helpful in overcoming, reducing, or avoiding computational problems in combinatorial auctions (CA). It begins with an analysis and discussion of ... More


Combinatorial Auctions for Truckload Transportation

Chris Caplice and Yossi Sheffi

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0022
Subject:
Society and Culture, Technology and Society

This chapter reports on the use of combinatorial auctions (CA) for the procurement of commercial freight transportation services in the truckload (TL) market in the U.S. It also explores how CA in ... More


The Clock-Proxy Auction: A Practical Combinatorial Auction Design

Lawrence M. Ausubel, Peter Cramton, and Paul Milgrom

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0006
Subject:
Society and Culture, Technology and Society

This chapter reports on the clock-proxy auction, a hybrid combinatorial auction design in which the process of auction begins with a clock phase and ends with a proxy round to promote efficiency. ... More


Auctioning Bus Routes: The London Experience

Estelle Cantillon and Martin Pesendorfer

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0023
Subject:
Society and Culture, Technology and Society

This chapter presents the format of the combinatorial auction (CA) that was adopted by London Regional Transport (LRT) along with a discussion of its properties. Major options and issues that were ... More


A Test Suite for Combinatorial Auctions

Kevin Leyton-Brown and Yoav Shoham

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0019
Subject:
Society and Culture, Technology and Society

This chapter presents the Combinatorial Auction Test Suite (CATS), a publicly available software package that attempts to model realistic bidding behavior and generates several winner determination ... More


PAUSE: A Computationally Tractable Combinatorial Auction

Ailsa Land, Susan Powell, and Richard Steinberg

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0007
Subject:
Society and Culture, Technology and Society

In this chapter, an iterative combinatorial auction procedure called Progressive Adaptive User Selection Environment (PAUSE) that was proposed by Frank Kelly and Richard Steinberg, is presented. In ... More


From the Assignment Model to Combinatorial Auctions

Sushil Bikhchandani and Joseph M. Ostroy

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0009
Subject:
Society and Culture, Technology and Society

In this chapter, the connection between efficient auctions for multiple, indivisible items and the duality theory of linear programming is investigated. Vickrey auctions are the focus of this ... More


Preference Elicitation in Combinatorial Auctions

Tuomas Sandholm and Craig Boutilier

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0011
Subject:
Society and Culture, Technology and Society

This chapter discusses the ways that can be helpful in handling the preference elicitation problem in combinatorial auctions. It begins with a discussion of a general elicitation framework and ... More


Simultaneous Ascending Auctions

Peter Cramton

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0005
Subject:
Society and Culture, Technology and Society

This chapter describes the simultaneous ascending auction (SAA), along with its extensions. It also discusses the success of this method since it was first developed and adopted for the U.S. Federal ... More


Pseudonymous Bidding in Combinatorial Auctions

Makoto Yokoo

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0008
Subject:
Society and Culture, Technology and Society

In this chapter, the effects of pseudonymous bidding, which can be considered a very restricted subclass of collusion on combinatorial auctions (CA), are analyzed and discussed. Detection of such ... More


The Communication Requirements of Combinatorial Allocation Problems

Ilya Segal

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0012
Subject:
Society and Culture, Technology and Society

This chapter analyses the extent of information about bidders’ preferences that is required to be communicated to find an efficient allocation in combinatorial auctions. It also discusses the ... More


Optimal Winner Determination Algorithms

Tuomas Sandholm

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0015
Subject:
Society and Culture, Technology and Society

This chapter discusses the optimal winner determination algorithm, which is used for solving the general problem where bids are not restricted. It further focuses on different fundamental design ... More


Bidding Languages for Combinatorial Auctions

Noam Nisan

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0010
Subject:
Society and Culture, Technology and Society

This chapter examines a number of convenient bidding languages for combinatorial auctions and discusses their properties. It states that the basic aim of a bidding language is to draw a balance ... More


Incentive Compatibility in Computationally Feasible Combinatorial Auctions

Amir Ronen

in Combinatorial Auctions

Published in print:
2005
Published Online:
August 2013
ISBN:
9780262033428
eISBN:
9780262302920
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262033428.003.0016
Subject:
Society and Culture, Technology and Society

This chapter presents modifications of the Vickrey-Clarke-Groves (VCG) mechanism of combinatorial auctions (CAs) that are computationally easy, and which restore individual rationality and incentive ... More


Designs on the Market: The FCC Spectrum Auctions

Philip Mirowski and Edward Nik-Khah

in The Knowledge We Have Lost in Information: The History of Information in Modern Economics

Published in print:
2017
Published Online:
June 2017
ISBN:
9780190270056
eISBN:
9780190270087
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190270056.003.0015
Subject:
Economics and Finance, History of Economic Thought

In this chapter we describe the supposed greatest triumph of the market designers, the FCC spectrum auctions. Careful recap of the history reveals that none of the touted benefits of the auction ... More


Lifecycle

Robin Hanson

in The Age of Em: Work, Love, and Life when Robots Rule the Earth

Published in print:
2016
Published Online:
November 2020
ISBN:
9780198754626
eISBN:
9780191917028
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198754626.003.0024
Subject:
Computer Science, Artificial Intelligence, Machine Learning

How many kinds of tasks does a typical em worker regularly do in the course of their job? Looking at job performance today, we see that while extreme specialization can give maximum productivity in ... More


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