An Efficient Approximate Algorithm for Winner Determination in Combinatorial Auctions

Auctions on the Internet have become especially popular in Electronic Commerce. Amongthe various studies on the Internet auctions, those on combinatorial auctions have lately attracted considerable attention. Combinatorial auctions simultaneously sell multiple items with interdependent values and allow the bidders to bid on any combination of items. Therefore, they tend to increase the buyers’ utilities and the seller’s revenue.

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