Decision Sciences
4 years ago

Unlocking Economic Efficiency: Bidding on Bundles Revolutionizes Auctions.

RePEc: Research Papers in Economics
Combinatorial Auctions: A Survey
Sven de Vries, Rakesh Vohra

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The article discusses how auctions involving different assets can be more efficient if bidders can bid on bundles of items they prefer. The researchers explore the design of these combinatorial auctions and how integer programming can help in creating them. The main goal is to improve economic efficiency by allowing bidders to bid on sets of items they value together.