To enhance the competition of combinatorial auction, a novel auction mechanism of two-round bidding with bundling optimization is proposed.
Combinatorial auctions are auctions where agents may submit bids for bundles of goods.
We first construct a one-sided Vickrey Clarke Groves (O-VCG) combinatorial auction for the DTPP where carriers are allowed to bid on bundles of lanes.
Being able to bid on "bundles" clearly mitigates the exposure problem, which arises when one gains too few or too many of the items desired, since it gives the participants the option to bid their precise valuations for any collection of items they desire.
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It also captures the special case of the Winner Determination problem in combinatorial auctions, where bidders place bids on every possible bundle of goods, and the goal is to find an allocation of goods to bidders that maximises the profit of the auctioneer.
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Researchers addressed the problem by grouping assignments into bundles for bidding [ 14, 24– 27] creating the multi-assignment problem, where each agent bids for multiple tasks.
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The consensus algorithm assumes only valid bids are made during the bundle construction algorithm, thus no changes are required for single-agent tasks.
As the recommended the auction mechanism, the shipper/auctioneer integrates the objects into several bundles based on the bidding results of first round auction.
