A new pricing scheme based on DEA for iterative multi-unit combinatorial auctions |
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Authors: | Juan Aparicio Mercedes Landete Juan Francisco Monge Inmaculada Sirvent |
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Institution: | (1) Centro de Investigación Operativa, Universidad Miguel Hernández de Elche, Elche, Spain |
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Abstract: | Iterative Multi-unit Combinatorial Auctions are auctions in which: bidders can express bids in successive rounds until a stopping
rule is held; there are multiple units of each item; and bids are bundles of items. Data Envelopment Analysis (DEA) is a nonparametric
method for measuring the relative efficiency of a set of homogeneous units. In this work, we present an algorithm for solving
an iterative multi-unit combinatorial auction in which the auctioneer computes at each round a linear anonymous price for
each item by using a DEA model and pushes bidders to express bids according to them. A computational study is carried out
in order to check the performance of the proposed design.
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Keywords: | DEA efficiency Winner-determination algorithm Auction design Combinatorial auction Iterative multi-unit auction |
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