VCG-combinatorial Vickrey-clarke-groves auctions

Caminati, Marco B and Kerber, Manfred and Lange-Bever, Christoph and Rowat, Colin (2015) VCG-combinatorial Vickrey-clarke-groves auctions. Archive of Formal Proofs.

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Abstract

A VCG auction (named after their inventors Vickrey, Clarke, and Groves) is a generalization of the single-good, second price Vickrey auction to the case of a combinatorial auction (multiple goods, from which any participant can bid on each possible combination). We formalize in this entry VCG auctions, including tie-breaking and prove that the functions for the allocation and the price determination are well-defined. Furthermore we show that the allocation function allocates goods only to participants, only goods in the auction are allocated, and no good is allocated twice. We also show that the price function is non-negative. These properties also hold for the automatically extracted Scala code.

Item Type:
Journal Article
Journal or Publication Title:
Archive of Formal Proofs
ID Code:
185174
Deposited By:
Deposited On:
01 Feb 2023 16:35
Refereed?:
Yes
Published?:
Published
Last Modified:
01 Feb 2023 16:35