Design of online combinatorial auction mechanism for urban land transfer.

ABSTRACT: With the wide application of the "Tender, Auction, and Listing" system for land in China, it is of paramount importance to establish a sound land auction mechanism so as to avoid unreasonable land allocation. However, existing studies only focus on developers who are merely concerned about land combinations and offline auctions with low efficiency and high land unsold rate. To further improve land auction mechanism, we modeled the problem of land allocation as an online combinatorial auction. On this basis, we defined a land correction coefficient and designed an optimal online combinatorial auction mechanism that enabled developers to submit multiple combinations of land. Our designed mechanism proved to satisfy both incentive compatibility (IC) and individual rationality (IR), which can

SUBMITTER: Wang Y 

PROVIDER: S-EPMC10617715 | biostudies-literature | 2023

REPOSITORIES: biostudies-literature