The price of independence in simultaneous auctions

Authors:
Brandon A. Mayer;Eric Sodomka;Amy Greenwald
Affiliations:
Brown University, Providence, RI, USA;Brown University, Providence, RI, USA;Brown University, Providence, RI, USA
Venue:
Proceedings of the 2013 international conference on Autonomous agents and multi-agent systems
Year:
2013

Citing 5
Cited 0

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Abstract

We present a computationally feasible method for predicting joint probability distributions over auction clearing prices, together with a bidding heuristic that exploits these price predictions. We demonstrate experimentally that our heuristic outperforms the state-of-the-art heuristic for bidding in simultaneous, second-price, sealed-bid (SimSPSB) auctions.