Combinatorial Auctions

The study of combinatorial auctions—auctions in which bidders can bid on combinations of items or “packages”—draws on the disciplines of economics, operations research, and computer science. This book integrates these three perspectives, offering a survey of developments in combinatorial auction theory and practice. Combinatorial auctions (CAs), by allowing bidders to express their preferences more fully, can lead to improved economic efficiency and greater auction revenues. However, challenges arise in both design and implementation. This book addresses each of these challenges. After describing and analyzing various CA mechanisms, it addresses bidding languages and questions of efficiency. Possible…