ICE: An Iterative Combinatorial Exchange

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ICE: An Iterative Combinatorial Exchange

Show simple item record Parkes, David C. Cavallo, Ruggiero Elprin, Nick Juda, Adam Lahaie, Sébastien Lubin, Benjamin Michael, Loizos Shneidman, Jeffrey Sultan, Hassan 2011-01-25T20:56:16Z 2005
dc.identifier.citation Parkes, David C., Ruggiero Cavallo, Nick Elprin, Adam Juda, Sebastien Lahaie, Benjamin Lubin, Loizos Michael, Jeffrey Shneidman, and Hassan Sultan. 2005. ICE: An iterative combinatorial exchange. In EC'05: Proceedings of the 6th ACM Conference on Electronic Commerce: June 5-8, 2005, Vancouver, Canada, 249-258. New York, N.Y.: ACM Press. en_US
dc.identifier.isbn 1-59593-049-3 en_US
dc.description.abstract We present the first design for a fully expressive iterative combinatorial exchange (ICE). The exchange incorporates a tree-based bidding language that is concise and expressive for CEs. Bidders specify lower and upper bounds on their value for different trades. These bounds allow price discovery and useful preference elicitation in early rounds, and allow termination with an efficient trade despite partial information on bidder valuations. All computation in the exchange is carefully optimized to exploit the structure of the bid-trees and to avoid enumerating trades. A proxied interpretation of a revealed-preference activity rule ensures progress across rounds. A VCG-based payment scheme that has been shown to mitigate opportunities for bargaining and strategic behavior is used to determine final payments. The exchange is fully implemented and in a validation phase. en_US
dc.description.sponsorship Engineering and Applied Sciences en_US
dc.language.iso en_US en_US
dc.publisher Association for Computing Machinery en_US
dc.relation.isversionof doi:10.1145/1064009.1064036 en_US
dc.relation.hasversion en_US
dash.license META_ONLY
dc.subject VCG en_US
dc.subject combinatorial exchange en_US
dc.subject preference elicitation en_US
dc.subject threshold payments en_US
dc.title ICE: An Iterative Combinatorial Exchange en_US
dc.type Monograph or Book en_US
dc.description.version Accepted Manuscript en_US
dc.relation.journal Proceedings of the 6th ACM conference on Electronic commerce en_US Parkes, David C.
dash.embargo.until 10000-01-01

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