Combinatorial auction with minimal resource requirements

Authors:
Fu-Shiung Hsieh
Affiliations:
Department of Computer Science and Information Engineering, Chaoyang University of Technology, Taichung County, Taiwan, R.O.C.
Venue:
IEA/AIE'07 Proceedings of the 20th international conference on Industrial, engineering, and other applications of applied intelligent systems
Year:
2007

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Abstract

Although combinatorial auction has been studied extensively, it is difficult to apply the existing results to a problem with minimal resource requirements. In this paper, we consider a combinatorial auction problem in which an auctioneer wants to acquire resources from a set of bidders to process the tasks on hand. Each task requires a minimal set of resources for executing the operations. Each bidder owns a set of resources to bid for the tasks. The problem is to determine the resource assignment to minimize the total cost to perform the tasks. The main results include: (1) a problem formulation for combinatorial auction with minimal resource requirements; (2) a solution methodology based on Lagrangian relaxation; (3) an economic interpretation and a proposed structure for implementing our solution algorithms.