Auctioning Substitutable Goods

10 years 7 months ago
Auctioning Substitutable Goods
In this paper we extend the notion of multi-unit combinatorial reverse auction by adding a new dimension to the goods at auction. In such a new type of combinatorial auction a buyer can express substitutability relationships among goods: some goods can be substituted by others at a substitution cost. Substitutability relationships allow a buyer to introduce his uncertainty as to whether it is more convenient to buy some goods or others. We introduce such uncertainty in the winner determination problem (WDP) so that not only does the auction help allocate the optimal set of offers —taking into account substitutability relationships—, but also assess the substitutability relationships that apply. In this way, the buyer finds out what goods to buy, to whom, and what operations (substitutions) to apply to the acquired goods in order to obtain the initially required ones. Finally, we empir
Andrea Giovannucci, Juan A. Rodríguez-Aguil
Added 26 Jun 2010
Updated 26 Jun 2010
Type Conference
Year 2005
Where CCIA
Authors Andrea Giovannucci, Juan A. Rodríguez-Aguilar, Jesús Cerquides
Comments (0)