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Combinatorial Auctions in Practice

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  • Ignacio Palacios-Huerta
  • David C. Parkes
  • Richard Steinberg

Abstract

We survey the uses of combinatorial auctions that have been deployed in practice, giving emphasis to their key representational and economic aspects. In addition, we discuss behavioral economics considerations on both the bidder and auctioneer sides of the market, and the interrelated topics of simplicity and trust, highlighting key opportunities for future work.

Suggested Citation

  • Ignacio Palacios-Huerta & David C. Parkes & Richard Steinberg, 2024. "Combinatorial Auctions in Practice," Journal of Economic Literature, American Economic Association, vol. 62(2), pages 517-553, June.
    • Handle: RePEc:aea:jeclit:v:62:y:2024:i:2:p:517-53
    DOI: 10.1257/jel.20221679
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    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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