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Computing optimal single item auctions by local search

Kreuzberg, Joren (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 find the maximal expected revenue of the auctioneer by maximizing the expected payments of the bidders. We show that this problem can be reduced to finding 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 (Bachelor)
Faculty:EEMCS: Electrical Engineering, Mathematics and Computer Science
Subject:31 mathematics
Programme:Applied Mathematics BSc (56965)
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