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A Performance Analysis of Self- Evolutionary Algorithms on Networks with Correlated Failures Read chapter Read first chapter

2018 | OriginalPaper | Chapter

A Modified Vickrey Auction with Regret Minimization for Uniform Alliance Decisions

Authors : Marin Lujak, Marija Slavkovik

Published in: Intelligent Distributed Computing XI

Publisher: Springer International Publishing

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Abstract

We consider a supply chain management problem where a business alliance of small capacity retailers needs to collectively select a unique supplier considering the assignment’s efficiency at both the alliance and retailers’ level. We model the alliance as a multi-agent system. For this model, we present a modified Vickrey auction algorithm with regret minimization and compare it experimentally with aggregation of preferences by voting and standard Vickrey auction. Through simulation, we show that the proposed method on average reaches globally efficient and individually acceptable solutions. The solutions are evaluated in terms of different social welfare values.

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previous chapter Towards a Paraconsistent Approach to Actions in Distributed Information-Rich Environments
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Metadata
Title
A Modified Vickrey Auction with Regret Minimization for Uniform Alliance Decisions
Authors
Marin Lujak
Marija Slavkovik
Copyright Year
2018
Book
Intelligent Distributed Computing XI

Print ISBN: 978-3-319-66378-4

Electronic ISBN: 978-3-319-66379-1

Copyright Year: 2018

DOI
https://doi.org/10.1007/978-3-319-66379-1_6

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