Efficient winner determination techniques for internet multi-unit auctions

Achal Bassamboo; Manish Gupta; Sandeep Juneja

doi:10.1007/0-306-47009-8_30

Efficient winner determination techniques for internet multi-unit auctions

Achal Bassamboo, Manish Gupta, Sandeep Juneja

Managerial Economics, Decision Sciences and Operations

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

2 Scopus citations

Abstract

In this paper we develop algorithms for efficiently processing bids in a single item, N unit (N ≥1) open cry auction for a large class of winner determination rules. Existing techniques consider all previously submitted bids along with the new arrivals to update the current set of winners. We propose that at most N "potential winner bids" amongst the previously submitted bids r such updates, thus significantly reducing the computation time and memory requirements. This is crucial when a large number of auctions are being conducted simultaneously. For a commonly used greedy auction rule we show that the expected number of potential winner bids may be much less than N under reasonable probabilistic assumptions.

Original language	English (US)
Title of host publication	Towards the E-Society
Subtitle of host publication	E-Commerce, E-Business, and E-Government - 1st IFIP Conference on E-Commerce, E-Business, E-Government, I3E 2001
Publisher	Springer New York LLC
Pages	417-430
Number of pages	14
ISBN (Print)	0792375297, 9780792375296
DOIs	https://doi.org/10.1007/0-306-47009-8_30
State	Published - 2001
Event	1st IFIP Conference on E-Commerce, E-Business, E-Government, I3E 2001 - Zurich, Switzerland Duration: Oct 3 2001 → Oct 5 2001

Publication series

Name	IFIP Advances in Information and Communication Technology
Volume	74
ISSN (Print)	1868-4238

Other

Other	1st IFIP Conference on E-Commerce, E-Business, E-Government, I3E 2001
Country/Territory	Switzerland
City	Zurich
Period	10/3/01 → 10/5/01

ASJC Scopus subject areas

Information Systems and Management

Access to Document

10.1007/0-306-47009-8_30

Cite this

Bassamboo, A., Gupta, M., & Juneja, S. (2001). Efficient winner determination techniques for internet multi-unit auctions. In Towards the E-Society: E-Commerce, E-Business, and E-Government - 1st IFIP Conference on E-Commerce, E-Business, E-Government, I3E 2001 (pp. 417-430). (IFIP Advances in Information and Communication Technology; Vol. 74). Springer New York LLC. https://doi.org/10.1007/0-306-47009-8_30

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Bassamboo, A, Gupta, M & Juneja, S 2001, Efficient winner determination techniques for internet multi-unit auctions. in Towards the E-Society: E-Commerce, E-Business, and E-Government - 1st IFIP Conference on E-Commerce, E-Business, E-Government, I3E 2001. IFIP Advances in Information and Communication Technology, vol. 74, Springer New York LLC, pp. 417-430, 1st IFIP Conference on E-Commerce, E-Business, E-Government, I3E 2001, Zurich, Switzerland, 10/3/01. https://doi.org/10.1007/0-306-47009-8_30

Efficient winner determination techniques for internet multi-unit auctions. / Bassamboo, Achal; Gupta, Manish; Juneja, Sandeep.
Towards the E-Society: E-Commerce, E-Business, and E-Government - 1st IFIP Conference on E-Commerce, E-Business, E-Government, I3E 2001. Springer New York LLC, 2001. p. 417-430 (IFIP Advances in Information and Communication Technology; Vol. 74).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

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AB - In this paper we develop algorithms for efficiently processing bids in a single item, N unit (N ≥1) open cry auction for a large class of winner determination rules. Existing techniques consider all previously submitted bids along with the new arrivals to update the current set of winners. We propose that at most N "potential winner bids" amongst the previously submitted bids r such updates, thus significantly reducing the computation time and memory requirements. This is crucial when a large number of auctions are being conducted simultaneously. For a commonly used greedy auction rule we show that the expected number of potential winner bids may be much less than N under reasonable probabilistic assumptions.

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Bassamboo A, Gupta M, Juneja S. Efficient winner determination techniques for internet multi-unit auctions. In Towards the E-Society: E-Commerce, E-Business, and E-Government - 1st IFIP Conference on E-Commerce, E-Business, E-Government, I3E 2001. Springer New York LLC. 2001. p. 417-430. (IFIP Advances in Information and Communication Technology). doi: 10.1007/0-306-47009-8_30

Efficient winner determination techniques for internet multi-unit auctions

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