Computing optimal single item auctions by local search

Kreuzberg, J. (2016) Computing optimal single item auctions by local search.

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Abstract:This paper does research for a local search heuristic approach to compute a revenue maximizing single item auction, called an optimal auction. We try to �nd the maximal expected revenue of the auctioneer by maximizing the expected payments of the bidders. We show that this problem can be reduced to �nding an optimal order of the possible types of the bidders. We use that insight to propose a simple local search algorithm for computing an optimal auction.
Item Type:Essay (Master)
Clients:
1994
Faculty:EEMCS: Electrical Engineering, Mathematics and Computer Science
Subject:31 mathematics
Programme:Applied Mathematics MSc (60348)
Link to this item:http://purl.utwente.nl/essays/72474
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