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A Random Walk Model for Studying Allocation Patterns in Auction-Based Resource Allocation

Conference paper
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Part of the Lecture Notes in Computer Science book series (LNCS, volume 4033)

Abstract

We consider users bidding in a series of multi-unit sealed-bid auctions, aiming at reserving the same amount of units of the resource auctioned, e.g. transmission slots in a wireless network. Each user attains from each successful allocation of resource units an instant marginal utility that depends on his history of resource allocation. The user’s bid at each auction equals this marginal utility. We introduce a random walk model for transient analysis of this series of auctions, we study the properties of the resulting user resource allocation patterns and we provide a numerical and experimental evaluation of this model.

Keywords

Auctions random walk resource allocation 

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References

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Copyright information

© Springer-Verlag Berlin Heidelberg 2006

Authors and Affiliations

  1. 1.Network Economics and Services Group (N.E.S.), Department of InformaticsAthens University of Economics and BusinessAthensGreece

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