The price of independence in simultaneous auctions

Brandon A. Mayer, Eric Sodomka, Amy Greenwald

Abstract: We present a computationally feasible method for predicting joint probability distributions over auction clearing prices, together with a bidding heuristic that exploits these price predictions. We demonstrate experimentally that our heuristic outperforms the state-of-the-art heuristic for bidding in simultaneous, second-price, sealed-bid (SimSPSB) auctions.