An interactive approach for Bi-attribute multi-item auctions

KARAKAYA G., Koksalan M.

ANNALS OF OPERATIONS RESEARCH, vol.245, pp.97-119, 2016 (SCI-Expanded) identifier identifier

  • Publication Type: Article / Article
  • Volume: 245
  • Publication Date: 2016
  • Doi Number: 10.1007/s10479-014-1669-4
  • Journal Name: ANNALS OF OPERATIONS RESEARCH
  • Journal Indexes: Science Citation Index Expanded (SCI-EXPANDED), Scopus
  • Page Numbers: pp.97-119
  • Keywords: Multi-attribute auctions, Multi-item auctions, Combinatorial auctions, Interactive approach, Decision support, COMBINATORIAL AUCTIONS, WINNER DETERMINATION, DECISION-SUPPORT, PROCUREMENT AUCTIONS, ONLINE AUCTIONS, ALGORITHM, MECHANISM
  • Middle East Technical University Affiliated: Yes

Abstract

The advances in the technological infrastructure and in the Internet led electronic auctions to become popular. With online sites, people buy/sell inexpensive products/services through auctions. In this paper, we develop an interactive approach that provides aid to both the buyer and the bidders in a bi-attribute, multi-item auction environment. Our approach is applicable for both reverse and forward auctions. We test our approach for underlying linear preference functions of the buyer. We also adapt it as a heuristic for the case the buyer has a nonlinear preference function. The test results show that our approach works well.