On Revenue Optimal Combinatorial Auctions - IFP Group at the ...
On Revenue Optimal Combinatorial Auctions - IFP Group at the ...
On Revenue Optimal Combinatorial Auctions - IFP Group at the ...
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Efficient <strong>Auctions</strong><br />
An alloc<strong>at</strong>ion of items among buyers gener<strong>at</strong>es value for <strong>the</strong><br />
items.<br />
The realized social welfare (RSW) = total value gener<strong>at</strong>ed<br />
through <strong>the</strong> alloc<strong>at</strong>ion of items.<br />
An efficient auction maximizes <strong>the</strong> realized social welfare.<br />
For a bid vector v, an efficient alloc<strong>at</strong>ion is a probability<br />
( ∑ )<br />
distribution on argmax v n .<br />
A∈A<br />
n∈A
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