Best-response dynamics in combinatorial auctions with item bidding

Paul Dütting and Thomas Kesselheim

Games and Economic Behavior, 2022, vol. 134, issue C, 428-448

Abstract: In a combinatorial auction with item bidding, agents participate in multiple single-item second-price auctions at once. As some items might be substitutes, agents need to strategize in order to maximize their utilities. A number of results indicate that high social welfare can be achieved this way, giving bounds on the welfare at equilibrium. Recently, however, criticism has been raised that equilibria of this game are hard to compute and therefore unlikely to be attained.

Keywords: Algorithmic game theory; Combinatorial auctions; Item bidding; Best-response dynamics (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:134:y:2022:i:c:p:428-448

DOI: 10.1016/j.geb.2020.09.006

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