Hierarchical package bidding: A paper & pencil combinatorial auction

  title={Hierarchical package bidding: A paper & pencil combinatorial auction},
  author={Jacob K. Goeree and Charles A. Holt},
  journal={Games and Economic Behavior},
We introduce a new combinatorial auction format based on a simple, transparent pricing mechanism tailored for the hierarchical package structure proposed by Rothkopf, Pekeč, and Harstad (1998) to avoid computational complexity. This combination provides the feedback necessary for bidders in multi-round auctions to discern winning bidding strategies for subsequent rounds and to coordinate responses to aggressive package bids. The resulting mechanism is compared to two leading alternatives in a… CONTINUE READING
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