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Home / Proceedings / Proceedings of the AAAI Conference on Artificial Intelligence, 32

A Bayesian Clearing Mechanism for Combinatorial Auctions

March 15, 2023

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Published Date: 2018-02-08

Registration: ISSN 2374-3468 (Online) ISSN 2159-5399 (Print)

Copyright: Published by AAAI Press, Palo Alto, California USA Copyright © 2018, Association for the Advancement of Artificial Intelligence All Rights Reserved.

Authors

Gianluca Brero

University of Zurich


Sébastien Lahaie

Google Research


DOI:

10.1609/aaai.v32i1.11445


Abstract:

We cast the problem of combinatorial auction design in a Bayesian framework in order to incorporate prior information into the auction process and minimize the number of rounds to convergence. We first develop a generative model of agent valuations and market prices such that clearing prices become maximum a posteriori estimates given observed agent valuations. This generative model then forms the basis of an auction process which alternates between refining estimates of agent valuations and computing candidate clearing prices. We provide an implementation of the auction using assumed density filtering to estimate valuations and expectation maximization to compute prices. An empirical evaluation over a range of valuation domains demonstrates that our Bayesian auction mechanism is highly competitive against the combinatorial clock auction in terms of rounds to convergence, even under the most favorable choices of price increment for this baseline.

Topics: AAAI

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Gianluca Brero||Sébastien Lahaie A Bayesian Clearing Mechanism for Combinatorial Auctions Proceedings of the AAAI Conference on Artificial Intelligence, 32 (2018) .

Gianluca Brero||Sébastien Lahaie A Bayesian Clearing Mechanism for Combinatorial Auctions AAAI 2018, .

Gianluca Brero||Sébastien Lahaie (2018). A Bayesian Clearing Mechanism for Combinatorial Auctions. Proceedings of the AAAI Conference on Artificial Intelligence, 32, .

Gianluca Brero||Sébastien Lahaie. A Bayesian Clearing Mechanism for Combinatorial Auctions. Proceedings of the AAAI Conference on Artificial Intelligence, 32 2018 p..

Gianluca Brero||Sébastien Lahaie. 2018. A Bayesian Clearing Mechanism for Combinatorial Auctions. "Proceedings of the AAAI Conference on Artificial Intelligence, 32". .

Gianluca Brero||Sébastien Lahaie. (2018) "A Bayesian Clearing Mechanism for Combinatorial Auctions", Proceedings of the AAAI Conference on Artificial Intelligence, 32, p.

Gianluca Brero||Sébastien Lahaie, "A Bayesian Clearing Mechanism for Combinatorial Auctions", AAAI, p., 2018.

Gianluca Brero||Sébastien Lahaie. "A Bayesian Clearing Mechanism for Combinatorial Auctions". Proceedings of the AAAI Conference on Artificial Intelligence, 32, 2018, p..

Gianluca Brero||Sébastien Lahaie. "A Bayesian Clearing Mechanism for Combinatorial Auctions". Proceedings of the AAAI Conference on Artificial Intelligence, 32, (2018): .

Gianluca Brero||Sébastien Lahaie. A Bayesian Clearing Mechanism for Combinatorial Auctions. AAAI[Internet]. 2018[cited 2023]; .


ISSN: 2374-3468


Published by AAAI Press, Palo Alto, California USA
Copyright 2022, Association for the Advancement of
Artificial Intelligence 1900 Embarcadero Road, Suite
101, Palo Alto, California 94303 All Rights Reserved

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