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dc.contributor.authorEnsthaler, Ludwigen_US
dc.contributor.authorGiebe, Thomasen_US
dc.date.accessioned2009-05-11en_US
dc.date.accessioned2010-02-04T13:05:56Z-
dc.date.available2010-02-04T13:05:56Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/29739-
dc.description.abstractA budget-constrained buyer wants to purchase items from a shortlisted set. Items are differentiated by quality and sellers have private reserve prices for their items. Sellers quote prices strategically, inducing a knapsack game. The buyer's problem is to select a subset of maximal quality. We propose a buying mechanism which can be viewed as a game theoretic extension of Dantzig's greedy heuristic for the classic knapsack problem. We use Monte Carlo simulations to analyse the performance of our mechanism. Finally, we discuss how the mechanism can be applied to award R&D subsidies.en_US
dc.language.isoengen_US
dc.publisherDeutsches Institut für Wirtschaftsforschung (DIW) Berlinen_US
dc.relation.ispartofseriesDiscussion papers // German Institute for Economic Research 880en_US
dc.subject.jelD21en_US
dc.subject.jelD43en_US
dc.subject.jelD44en_US
dc.subject.jelD45en_US
dc.subject.ddc330en_US
dc.subject.keywordAuctionsen_US
dc.subject.keywordsubsidiesen_US
dc.subject.keywordmarket designen_US
dc.subject.keywordknapsack problemen_US
dc.subject.stwBeschaffungen_US
dc.subject.stwAuktionstheorieen_US
dc.subject.stwGanzzahlige Optimierungen_US
dc.subject.stwSpieltheorieen_US
dc.subject.stwMechanismen_US
dc.subject.stwTheorieen_US
dc.subject.stwForschungssubventionen_US
dc.subject.stwKlein- und Mittelunternehmenen_US
dc.subject.stwMonte-Carlo-Methodeen_US
dc.subject.stwDeutschlanden_US
dc.titleSubsidies, knapsack auctions and Dantzig's greedy heuristicen_US
dc.typeWorking Paperen_US
dc.identifier.ppn599515619en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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