Approximate bidding algorithms for a distributed combinatorial auction

Authors:
Benito Mendoza;José M. Vidal
Affiliations:
University of South Carolina, Columbia, SC;University of South Carolina, Columbia, SC
Venue:
Proceedings of the 7th international joint conference on Autonomous agents and multiagent systems - Volume 3
Year:
2008

Citing 6
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Abstract

Distributed allocation and multiagent coordination problems can be solved through combinatorial auctions (CAs). However, most of the existing winner determination algorithms (WDAs) for CAs are centralized. The PAUSE auction is one of a few efforts to release the auctioneer from having to do all the work. The PAUSEBID bidding algorithm[6] generates myopically-optimal bids for agents in a PAUSE auction but its running time is exponential on the number of bids. We present new approximate bidding algorithms that not only run in linear time but also increase the utility of the bidders as result of small decrement in revenue.