combinatorial auctions

Combinatorial auctions are a type of auction where bidders can place bids on combinations or groups of items, rather than just individual items. This allows bidders to express how valuable a set of items is when they are used together, which can be more efficient than bidding separately. For example, a company might bid on a bundle of related equipment instead of individual pieces, ensuring they win the right combination that best suits their needs. These auctions are often used when items are complementary, and finding the optimal grouping maximizes overall value for both buyers and sellers.