Towards Better Approximation of Winner Determination for Combinatorial Auctions with Large Number of Bids
We propose new approximate algorithms for combinatorial auctions with massively large number of (more than 100,000) bids. In this paper, we focus on a more practical approximated algorithm in the context of revenue maximization. We propose a hill-climbing greedy algorithm, a SA-like random search al...
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| Vydáno v: | 2006 IEEE/WIC/ACM International Conference on Intelligent Agent Technology : proceedings : 18-22 December, 2006, Hong Kong, China s. 618 - 621 |
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| Médium: | Konferenční příspěvek |
| Jazyk: | angličtina |
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Washington, DC, USA
IEEE Computer Society
18.12.2006
IEEE |
| Edice: | ACM Conferences |
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| ISBN: | 9780769527482, 0769527485 |
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| Abstract | We propose new approximate algorithms for combinatorial auctions with massively large number of (more than 100,000) bids. In this paper, we focus on a more practical approximated algorithm in the context of revenue maximization. We propose a hill-climbing greedy algorithm, a SA-like random search algorithm, and their enhancement for searching multiple key parameter values. The experimental results demonstrate that our algorithms perform approximately 0.997 optimality compared with the optimal solutions and better than previously presented approximated algorithms. We also demonstrate that our algorithms are a kind of anytime algorithmthat bring better results in shorter computational time that can be applied to large and dynamic electronic markets. |
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| AbstractList | We propose new approximate algorithms for combinatorial auctions with massively large number of (more than 100,000) bids. In this paper, we focus on a more practical approximated algorithm in the context of revenue maximization. We propose a hill-climbing greedy algorithm, a SA-like random search algorithm, and their enhancement for searching multiple key parameter values. The experimental results demonstrate that our algorithms perform approximately 0.997 optimality compared with the optimal solutions and better than previously presented approximated algorithms. We also demonstrate that our algorithms are a kind of anytime algorithmthat bring better results in shorter computational time that can be applied to large and dynamic electronic markets. We propose new approximate algorithms for combinatorial auctions with massively large number of (more than 100,000) bids. In this paper, we focus on a more practical approximated algorithm in the context of revenue maximization. We propose a hill-climbing greedy algorithm, a SA-like random search algorithm, and their enhancement for searching multiple key parameter values. The experimental results demonstrate that our algorithms perform approximately 0.997 optimality compared with the optimal solutions and better than previously presented approximated algorithms. We also demonstrate that our algorithms are a kind of anytime algorithm that bring better results in shorter computational time that can be applied to large and dynamic electronic markets. |
| Author | Ito, Takayuki Fukuta, Naoki |
| Author_xml | – sequence: 1 givenname: Naoki surname: Fukuta fullname: Fukuta, Naoki organization: Shizuoka University, Japan – sequence: 2 givenname: Takayuki surname: Ito fullname: Ito, Takayuki organization: Nagoya Institute of Technology, Japan |
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| PublicationTitle | 2006 IEEE/WIC/ACM International Conference on Intelligent Agent Technology : proceedings : 18-22 December, 2006, Hong Kong, China |
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| Snippet | We propose new approximate algorithms for combinatorial auctions with massively large number of (more than 100,000) bids. In this paper, we focus on a more... |
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| SubjectTerms | Applied computing -- Operations research -- Decision analysis Approximation algorithms Computational complexity Computer science Computing methodologies -- Artificial intelligence -- Distributed artificial intelligence -- Cooperation and coordination Computing methodologies -- Artificial intelligence -- Distributed artificial intelligence -- Intelligent agents Consumer electronics Greedy algorithms Indium tin oxide Informatics Information systems -- Information systems applications -- Decision support systems Information systems -- World Wide Web -- Online advertising Information systems -- World Wide Web -- Web applications -- Electronic commerce Mathematics of computing -- Discrete mathematics -- Combinatorics -- Combinatorial algorithms Simulated annealing Sorting Temperature |
| Title | Towards Better Approximation of Winner Determination for Combinatorial Auctions with Large Number of Bids |
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