Solids: A Combinatorial Auction for Real Estate

Dries R. Goossens (), Sander Onderstal, Jan Pijnacker () and Frits C. R. Spieksma ()
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Dries R. Goossens: Faculty of Economics and Business Administration, Ghent University, 9000 Ghent, Belgium; and Center for Operations Research and Business Statistics (ORSTAT), Faculty of Business and Economics, Katholieke Universiteit Leuven, 3000 Leuven, Belgium
Jan Pijnacker: Stadgenoot, 1018 GW Amsterdam, The Netherlands
Frits C. R. Spieksma: Katholieke Universiteit Leuven, 3000 Leuven, Belgium

Interfaces, 2014, vol. 44, issue 4, 351-363

Abstract: In May 2011, our collaboration with housing corporation Stadgenoot culminated in the first combinatorial auction for housing space in a newly erected multistory building in Amsterdam in the Netherlands. Our primary goal was to allocate space based on the preferences of many potential users. The resulting allocation included space for restaurants, boutiques, a dentist, and residential users. The auction we designed maximized total rent for Stadgenoot while complying with municipal and building regulations. We based our design on laboratory experiments that gave us guidance on choices regarding, for example, pricing, feedback, and activity rules. This paper describes the development and the results of this auction.

Keywords: combinatorial auction; design; bidding; allocation constraints; real estate (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (6)

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