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Welfare guarantees for combinatorial auctions with item bidding.
| Content Provider | CiteSeerX |
|---|---|
| Author | Bhawalkar, Kshipra Roughgarden, Tim |
| Abstract | We analyze the price of anarchy (POA) in a simple and practical non-truthful combinatorial auction when players have subadditive valuations for goods. We study the mechanism that sells every good in parallel with separate second-price auctions. We first prove that under a standard “no overbidding ” assumption, for every subadditive valuation profile, every pure Nash equilibrium has welfare at least 50 % of optimal — i.e., the POA is at most 2. For the incomplete information setting, we prove that the POA with respect to Bayes-Nash equilibria is strictly larger than 2 — an unusual separation from the full-information model — and is at most 2 ln m, wheremisthenumberof goods. 1 |
| File Format | |
| Access Restriction | Open |
| Content Type | Text |
