Combinatorial auction

Patent Granted A combinatorial auction is a type of smart market in which participants can place bids on combinations of discrete items, or “packages”, rather than individual items or continuous quantities. Simple combinatorial auctions have been used for many years in estate auctions, where a common procedure is to accept bids for packages of items. They have been used recently for truckload transportation, bus routes, industrial procurement, and in the allocation of radio spectrum for wireless communications.