Methods for Boosting Revenue in Combinatorial Auctions

  title={Methods for Boosting Revenue in Combinatorial Auctions},
  author={Anton Likhodedov and Tuomas Sandholm},
We study the recognized open problem of designing revenuemaximizing combinatorial auctions. It is unsolved even for two bidders and two items for sale. Rather than pursuing the pure economic approach of attempting to characterize the optimal auction, we explore techniques for automatically modifying existing mechanisms in a way that increase expected revenue. We introduce a general family of auctions, based on bidder weighting and allocation boosting, which we call virtual valuations… CONTINUE READING
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