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dc.contributor.authorEnsthaler, Ludwigen
dc.contributor.authorGiebe, Thomasen
dc.date.accessioned2009-05-11-
dc.date.accessioned2010-02-04T13:05:56Z-
dc.date.available2010-02-04T13:05:56Z-
dc.date.issued2009-
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
dc.language.isoengen
dc.publisher|aDeutsches Institut für Wirtschaftsforschung (DIW) |cBerlinen
dc.relation.ispartofseries|aDIW Discussion Papers |x880en
dc.subject.jelD21en
dc.subject.jelD43en
dc.subject.jelD44en
dc.subject.jelD45en
dc.subject.ddc330en
dc.subject.keywordAuctionsen
dc.subject.keywordsubsidiesen
dc.subject.keywordmarket designen
dc.subject.keywordknapsack problemen
dc.subject.stwBeschaffungen
dc.subject.stwAuktionstheorieen
dc.subject.stwGanzzahlige Optimierungen
dc.subject.stwSpieltheorieen
dc.subject.stwMechanismen
dc.subject.stwTheorieen
dc.subject.stwForschungssubventionen
dc.subject.stwKlein- und Mittelunternehmenen
dc.subject.stwMonte-Carlo-Methodeen
dc.subject.stwDeutschlanden
dc.titleSubsidies, knapsack auctions and Dantzig's greedy heuristic-
dc.type|aWorking Paperen
dc.identifier.ppn599515619en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:diw:diwwpp:dp880en

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