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Auctioning k identical items A particularly simple case of combinatorial auctions is when there are k identical items to be sold and n > k bidders who are interested in acquiring one of them. That is, each bidder has their own value for getting an item, but that value does not depend on which item and there is no additional value for acquiring more than one. In this setting VCG has a particually simple and natural form. Explain what VCG does in this setting. That is, who does it allocate items to and how much does it charge them?

Auctioning k identical items A particularly simple case of combinatorial auctions is when there are k identical items to be sold and n > k bidders who are interested in acquiring one of them. That is, each bidder has their own value for getting an item, but that value does not depend on which item and there is no additional value for acquiring more than one. In this setting VCG has a particually simple and natural form. Explain what VCG does in this setting. That is, who does it allocate items to and how much does it charge them?

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.6: Permutations
Problem 39E
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Auctioning k identical items A particularly simple case of combinatorial auctions is when there are k identical items to be sold and n > k bidders who are interested in acquiring one of them. That is, each bidder has their own value for getting an item, but that value does not depend on which item and there is no additional value for acquiring more than one. In this setting VCG has a particually simple and natural form. Explain what VCG does in this setting. That is, who does it allocate items to and how much does it charge them?
Transcribed Image Text:Auctioning k identical items A particularly simple case of combinatorial auctions is when there are k identical items to be sold and n > k bidders who are interested in acquiring one of them. That is, each bidder has their own value for getting an item, but that value does not depend on which item and there is no additional value for acquiring more than one. In this setting VCG has a particually simple and natural form. Explain what VCG does in this setting. That is, who does it allocate items to and how much does it charge them?
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