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Approximation of Walrasian equilibrium in single-minded auctions

Authors :
Li-Sha Huang
Bo Zhang
Minming Li
Source :
Theoretical Computer Science. (1-3):390-398
Publisher :
Elsevier B.V.

Abstract

We consider a social optimization model of pricing scheme in single-minded auctions, in cases where Walrasian equilibrium does not exist. We are interested in the maximization of the ratio, R, of happy bidders over all agents, in a feasible allocation-pricing scheme. We show NP-hardness of the optimization problem, establish lower and upper bounds of R, as well as develop greedy algorithms to approximate the optimal value of R.

Details

Language :
English
ISSN :
03043975
Issue :
1-3
Database :
OpenAIRE
Journal :
Theoretical Computer Science
Accession number :
edsair.doi.dedup.....4a3844ad1f3bd5aba7e50a19f7e284e7
Full Text :
https://doi.org/10.1016/j.tcs.2005.03.008