Bidder Valuation

Run the Greedy Algorithm and compare that to the Social Welfare Maximizing Allocation. Determine the price bidder C will pay under the Greedy Algorithm.

Imagine you are the captain of a cargo ship and different companies want you to transport their cargo. Each piece of cargo has a certain weight and valuation below. Suppose the ship can carry 17 tons of cargo. Item’s valuations are kept private by the companies but item weights are known publically. Item/Bidder Valuation Weight […]

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