A Practical Guide to the Combinatorial Clock Auction
@article{Ausubel2017APG, title={A Practical Guide to the Combinatorial Clock Auction}, author={Lawrence M. Ausubel and Oleg Baranov}, journal={Wiley-Blackwell: Economic Journal}, year={2017} }
The combinatorial clock auction (CCA) is an important recent innovation in auction design that has been utilised for many spectrum auctions worldwide. While the theoretical foundations of the CCA are described in a growing literature, many of the practical implementation choices are neglected. In this article, we examine some of the most critical practical decisions for a regulator implementing the CCA. Topics include: implementation of reserve prices; endogenous band plans; supplementary round…
44 Citations
Strategic Complexities in the Combinatorial Clock Auction
- EconomicsSSRN Electronic Journal
- 2016
This work provides simple examples that illustrate how “truthful and truncated“ bidding may be harmful to bidders and thereby illustrate the complexities b biders face in preparing for a CCA.
On the Economic Efficiency of the Combinatorial Clock Auction
- EconomicsSODA
- 2016
This paper shows that CCA does provide strong guarantees on social welfare provided the price increment and stopping rule are well-chosen, and shows that the welfare ratio of the CCA is at least Ω([EQUATION]).
A Bayesian Clearing Mechanism for Combinatorial Auctions
- Economics, Computer ScienceAAAI
- 2018
An empirical evaluation demonstrates that the Bayesian auction mechanism is highly competitive against the combinatorial clock auction in terms of rounds to convergence, even under the most favorable choices of price increment for this baseline.
Adaptive-Price Combinatorial Auctions
- Economics
- 2018
This work introduces a novel iterative combinatorial auction that aims to achieve both high efficiency and fast convergence across a wide range of valuation domains. We design the first fully…
Adaptive-Price Combinatorial Auctions
- EconomicsEC
- 2019
This work designs the first fully adaptive-price combinatorial auction that gradually extends price expressivity as the rounds progress, and implements the auction design using polynomial prices and shows how to detect when the current price structure is insufficient to clear the market.
Revealed-Preference Activity Rule in Combinatorial Clock Spectrum Auction: A Review and New Research Opportunities
- Computer Science2018 Third International Conference on Informatics and Computing (ICIC)
- 2018
The road of CCA evolution and detailed focus in complexity inclock rounds phase is explained and two different activity-rules in clock rounds phase has been explain in this paper.
References
SHOWING 1-10 OF 19 REFERENCES
Market Design and the Evolution of the Combinatorial Clock Auction
- Biology
- 2014
Further evolutionary changes are described, including new activity rules, new approaches to pricing, and an integration of non-mutually-exclusive bids, which will help to address performance issues of the Combinatorial Clock Auction.
Are Dynamic Vickrey Auctions Practical?: Properties of the Combinatorial Clock Auction
- Economics
- 2014
The combinatorial clock auction is becoming increasingly popular for large-scale spectrum awards and other uses, replacing more traditional ascending or clock auctions. We describe some surprising…
The Clock-Proxy Auction: A Practical Combinatorial Auction Design
- Economics
- 2004
We propose the clock-proxy auction as a practical means for auctioning many related items. A clock auction phase is followed by a last-and-final proxy round. The approach combines the simple and…
Do core-selecting Combinatorial Clock Auctions always lead to high efficiency? An experimental analysis of spectrum auction designs
- Economics
- 2013
For many years the Simultaneous Multi-Round Auction (SMRA) has been the primary auction design for spectrum sales worldwide. Recently, the core-selecting Combinatorial Clock Auction (CCA) has been…
Spectrum Auction Design
- Economics
- 2009
Spectrum auctions are used by governments to assign and price licenses for wireless communications. The standard approach is the simultaneous ascending auction, in which many related lots are…
Bidding Languages for Combinatorial Auctions
- Computer ScienceIJCAI
- 2001
A new, generalized language where bids are given by propositional formulae whose subformulae can be annotated with prices is introduced, which allows bidder utilities to be formulated more naturally and concisely than existing languages.
Quadratic Core-Selecting Payment Rules for Combinatorial Auctions
- EconomicsOper. Res.
- 2012
A unique point in the core is computed that minimizes the sum of squared deviations from a reference point, for example, from the Vickrey-Clarke-Groves payments.
Iterative combinatorial auctions: achieving economic and computational efficiency
- Economics
- 2001
iBundle is proposed, an iterative combinatorial auction in which agents can bid for combinations of items and adjust their bids in response to bids from other agents, and also compute Vickrey payments at the end of the auction.