Dictionary :: Auctions

Glossary of game theory terms.

Combinatorial Auction

A multiunit auction in which each bidder offers a price for a collection of goods (of the bidder's choosing) rather than placing a bid on each item separately. The auctioneer selects a set of these combinatorial bids which raises the most revenue without assigning any object to more than one bidder.

updated: 12 August 2005
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