Bidding Languages for Combinatorial Auctions

Combinatorial auctions provide a valuable mechanism for the allocation of goods in settings where buyer valuations exhibit complex structure with respect to substitutabilityand complementarity. Most algorithms are designed to work with explicit bids for concrete bundles of goods. However, logical bidding languages allow the expression of complex utility functions in a natural and concise way. We introduce a new, generalized language where bids are given by propositional formulae whose subformulae can be annotated with prices. This language allows bidder utilities to be formulated more naturally and concisely than existing languages. Furthermore, we outline a general algorithmic technique for winner determination for auctions that use this bidding language.

• Type: Conference
• Year: 2001
• Where: IJCAI
• Authors: Craig Boutilier, Holger H. Hoos
• Keywords: Bidding Language, IJCAI 2001, IJCAI 2007, Language Allows Bidder, Logical Bidding Languages