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Opportunity Cost Algorithms for Combinatorial Auctions
 In Erricos John Kontoghiorghes, Berç Rustem, and Stavros Siokos, editors, Applied Optimization: Computational Methods in DecisionMaking, Economics and Finance
, 2000
"... Two general algorithms based on opportunity costs are given for approximating a revenue maximizing set of bids an auctioneer should accept, in a combinatorial auction in which each bidder offers a price for some subset of the available goods and the auctioneer can only accept nonintersecting bids. ..."
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Two general algorithms based on opportunity costs are given for approximating a revenue maximizing set of bids an auctioneer should accept, in a combinatorial auction in which each bidder offers a price for some subset of the available goods and the auctioneer can only accept nonintersecting bids. Since this problem is difficult even to approximate in general, the algorithms are most useful when the bids are restricted to be connected node subsets of an underlying object graph that represents which objects are relevant to each other. The approximation ratios of the algorithms depend on structural properties of this graph and are small constants for many interesting families of object graphs. The running times of the algorithms are linear in the size of the bid graph, which describes the conflicts between bids. Extensions of the algorithms allow for efficient processing of additional constraints, such as budget constraints that associate bids with particular bidders and limit how many bids from a particular bidder can be accepted.
Case Study: Implementing a Web Based Auction System Using
 UML and ComponentBased Programming”, Proc. 26th International Computer Software and Applications Conference (COMPSAC 2002
, 2002
"... This paper presents a case study highlighting the best practices for designing and building a webbased auction system using UML (Unified Model Language) and componentbased programming. We use the Use Case, Class, Sequence, and Component Diagrams offered by UML for designing the system. This enable ..."
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This paper presents a case study highlighting the best practices for designing and building a webbased auction system using UML (Unified Model Language) and componentbased programming. We use the Use Case, Class, Sequence, and Component Diagrams offered by UML for designing the system. This enables new functions to be added and updated easily. Our implementation, with its basis in componentbased programming, enabled us to develop a highly maintainable system with a number of reusable components: the MethodofBidding (the bidder can bid at three different frequencies fast, medium or leisurely), the Certification (Identity verification function), and the RegistrationGood (Product entry function) Components. Further, the system uses intelligent agents that permit fair help to bidders participating in auctions and at the same time achieve maximum profit for the seller. The design and implementation environment, along with the tools used, provide excellent support for the successful development of the system. 1.
Chapter 8 OPPORTUNITY COST ALGORITHMS FOR COMBINATORIAL AUCTIONS
"... Abstract Two general algorithms based on opportunity costs are given for approximating a revenuemaximizing set of bids an auctioneer should accept, in a combinatorial auction in which each bidder offers a price for some subset of the available goods and the auctioneer can only accept nonintersecti ..."
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Abstract Two general algorithms based on opportunity costs are given for approximating a revenuemaximizing set of bids an auctioneer should accept, in a combinatorial auction in which each bidder offers a price for some subset of the available goods and the auctioneer can only accept nonintersecting bids. Since this problem is difficult even to approximate in general, the algorithms are most useful when the bids are restricted to be connected node subsets of an underlying object graph that represents which objects are relevant to each other. The approximation ratios of the algorithms depend on structural properties of this graph and are small constants for many interesting families of object graphs. The running times of the algorithms are linear in the size of the bid graph, which describes the conflicts between bids. Extensions of the algorithms allow for efficient processing of additional constraints, such as budget constraints that associate bids with particular bidders and limit how many bids from a particular bidder can be accepted.
Geometric Modeling and Analysis of Dynamic Resource Allocation Mechanisms
, 2001
"... The major contribution of this thesis is the investigation of a specific resource allocation optimization problem whose solution has both practical application as well as theoretical interest. It is presented as a specific case of a more general modeling framework we put forth. The underlying quest ..."
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The major contribution of this thesis is the investigation of a specific resource allocation optimization problem whose solution has both practical application as well as theoretical interest. It is presented as a specific case of a more general modeling framework we put forth. The underlying question asks how to partition a given resource into a fixed number of parts such that the elements of the resulting partition can be scheduled among a set of user requests to minimize the worst case difference between the schedule and the requests. This particular allocation problem has not been studied before. The general problem is difficult in part because the evaluation of the objective problem is a difficult task by itself. We present a novel algorithm for its exact solution in a constrained setting and discussion of the unconstrained setting in, followed by a number of practical applications of these solutions. The solution to the constrained optimization problem is shown to provide sizable benefits in allocation efficiency in a number of contexts at a minimal implementation cost. The specific contexts we look at include communication over a shared channel, allocation of many small channels to a few users and package delivery from a central office to a number of satellite offices.