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An efficient local search algorithm for the winner determination problem

Author

Listed:
  • Haochen Zhang

    (Northeast Normal University)

  • Shaowei Cai

    (Chinese Academy of Sciences)

  • Chuan Luo

    (Chinese Academy of Sciences
    State Key Laboratory of Mathematical Engineering and Advanced Computing)

  • Minghao Yin

    (Northeast Normal University)

Abstract

Combinatorial auction, which allows bidders to bid on combinations of items, is an important type of market mechanism. The winner determination problem (WDP) has extensive applications in combinatorial auctions, and attracts more and more attention due to its strong relevance to business. However, this problem is intractable in theory as it has been proven to be NP-hard, and is also a challenging combinatorial optimization problem in practice. This paper is devoted to designing an efficient heuristic algorithm for solving the WDP. This proposed heuristic algorithm dubbed abcWDP is based on an effective yet simple local search framework, and equipped with three novel strategies, i.e., configuration checking, free-bid exploiting, and pseudo-tie mechanism. Extensive computational experiments on a broad range of benchmarks demonstrate that abcWDP performs much better than state-of-the-art algorithms and CPLEX in terms of both revenue and running time. More encouragingly, our abcWDP algorithm as a sequential algorithm even achieves better computational results than the multi-thread implemented algorithm $$\hbox {CA}_\mathrm{RA}$$ CA RA , which confirms its efficiency.

Suggested Citation

  • Haochen Zhang & Shaowei Cai & Chuan Luo & Minghao Yin, 2017. "An efficient local search algorithm for the winner determination problem," Journal of Heuristics, Springer, vol. 23(5), pages 367-396, October.
    • Handle: RePEc:spr:joheur:v:23:y:2017:i:5:d:10.1007_s10732-017-9344-y
    DOI: 10.1007/s10732-017-9344-y
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    References listed on IDEAS

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    2. Michael H. Rothkopf & Aleksandar Pekev{c} & Ronald M. Harstad, 1998. "Computationally Manageable Combinational Auctions," Management Science, INFORMS, vol. 44(8), pages 1131-1147, August.
    3. Voudouris, Christos & Tsang, Edward, 1999. "Guided local search and its application to the traveling salesman problem," European Journal of Operational Research, Elsevier, vol. 113(2), pages 469-499, March.
    4. Alidaee, Bahram & Kochenberger, Gary & Lewis, Karen & Lewis, Mark & Wang, Haibo, 2008. "A new approach for modeling and solving set packing problems," European Journal of Operational Research, Elsevier, vol. 186(2), pages 504-512, April.
    5. Fred Glover, 1990. "Tabu Search—Part II," INFORMS Journal on Computing, INFORMS, vol. 2(1), pages 4-32, February.
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    Cited by:

    1. Yi Chu & Boxiao Liu & Shaowei Cai & Chuan Luo & Haihang You, 2020. "An efficient local search algorithm for solving maximum edge weight clique problem in large graphs," Journal of Combinatorial Optimization, Springer, vol. 39(4), pages 933-954, May.
    2. Miguel S. E. Martins & Joaquim L. Viegas & Tiago Coito & Bernardo Firme & Andrea Costigliola & João Figueiredo & Susana M. Vieira & João M. C. Sousa, 2023. "Minimizing total completion time in large-sized pharmaceutical quality control scheduling," Journal of Heuristics, Springer, vol. 29(1), pages 177-206, February.

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