Bidding Languages for Continuous Auctions
Bidding languages are well-defined for combinatorial auctions. However, the auctions of divisible goods are quite common in practice. In contrast to combinatorial auctions, in a case of divisible commodities, the feasible volumes of offers are continuous. Thus, we call such auctions as continuous auctions. In the paper we introduce three families of bidding languages for continuous auctions. Their are based on the concepts derived from the combinatorial auctions. We generalize the language families based on goods, bids, and some mixture of both of them, to the continuous case. We also present preliminary analysis of their properties. Simple examples, reflecting the complementarity and substitutability, are provided with the exemplary representations in different languages.
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