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  4. Exploiting Weak Supermodularity for Coalition-Proof Mechanisms
 
conference paper

Exploiting Weak Supermodularity for Coalition-Proof Mechanisms

Karaca, Orcun
•
Kamgarpour, Maryam  
December 2018
2018 IEEE Conference on Decision and Control (CDC)
2018 IEEE Conference on Decision and Control (CDC)

Under the incentive-compatible Vickrey-Clarke-Groves mechanism, coalitions of participants can influence the auction to obtain higher collective profit. These manipulations were proven to be eliminated if and only if the market objective is supermodular. Nevertheless, several auctions do not satisfy the stringent conditions for supermodularity. These auctions include electricity markets, which are the main motivation of our paper. To address this issue, we introduce the supermodularity ratio and the weak supermodularity. We show that these concepts provide us with tight bounds on the profitability of collusion and shill bidding. We then derive an analytical lower bound on the supermodularity ratio. Our results are verified with case studies based on the IEEE test systems.

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Type
conference paper
DOI
10.1109/CDC.2018.8619337
Author(s)
Karaca, Orcun
Kamgarpour, Maryam  
Date Issued

2018-12

Publisher

IEEE

Publisher place

Miami Beach, FL

Published in
2018 IEEE Conference on Decision and Control (CDC)
ISBN of the book

978-1-5386-1395-5

Start page

1118

End page

1123

Editorial or Peer reviewed

REVIEWED

Written at

OTHER

EPFL units
SYCAMORE  
Event nameEvent placeEvent date
2018 IEEE Conference on Decision and Control (CDC)

Miami Beach, FL

2018-12

Available on Infoscience
December 1, 2021
Use this identifier to reference this record
https://infoscience.epfl.ch/handle/20.500.14299/183334
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