TBBL: A Tree-Based Bidding Language for Iterative Combinatorial Exchanges

Abstract

We present a novel tree-based logical bidding language, TBBL, for preference elicitation in combinatorial exchanges (CEs). TBBL provides new expressiveness for two-sided markets with agents that are both buying and selling goods. Moreover, the rich semantics of TBBL allow the language to capture new structure, making it exponentially more concise than OR* and LGB for preferences that are realistic in important domains for CEs. With simple extensions TBBL can subsume these earlier languages. TBBL can also explicitly represent partial information about valuations. The language is designed such that the structure in TBBL bids can be concisely captured directly in mixed-integer programs for the allocation problem. We illustrate TBBL through examples drawn from domains to which it can be (and is being) applied, and motivate further extensions we are currently pursuing.