Details for Talk on: 11.12.2018

Abstract: Combinatorial Auctions are mechanisms used to allocate multiple goods to multiple bidders. Bidders are allowed to place bids on arbitrary bundles of goods, which causes these scenarios to be complex to analyze. One phenomenon that arises in such auctions is overbidding, when a bidder bids more for a bundle of goods than those goods are worth to her. This is a class of strategic manipulations that only has very limited analogues in non-combinatorial settings involving a single good.
I will introduce several distinct types of overbidding, and show how the auction mechanism is manipulated in each of them. I will also discuss some preliminary results about what conditions the payment rules of auctions must fulfill to stop these manipulations from happening in Bayes-Nash equilibrium.

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