Short-time approximation on combinatorial auctions: a comparison on approximated winner determination algorithms

  • Authors:
  • Naoki Fukuta;Takayuki Ito

  • Affiliations:
  • Shizuoka University, Shizuoka, Japan;Nagoya Institute of Technology, Showa-ku Nagoya, Aichi, Japan

  • Venue:
  • Proceedings of the 3rd international workshop on Data enginering issues in E-commerce and services: In conjunction with ACM Conference on Electronic Commerce (EC '07)
  • Year:
  • 2007

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Abstract

Combinatorial auctions, one of the most popular market mechanisms, have a huge effect on electronic markets and political strategies. In real scenarios, since the auction mechanism has to clear the market very frequently, actually there is not enough time to compute exact optimal winners. Some works try to achieve approximate solutions in winner determination. In this paper, we compare four approximation algorithms, and reveal how those algorithms work better on which settings. Especially, we focused on comparing them in the setting of that has many number of bids but only a limited time period can be used for each approximation.