We explore the performance of multi-round, price-guided combinatorial auctions for a previously untested class of value profiles in which synergies arise from shared fixed costs. We find that, in many cases, a simulator that bids straightforwardly does well in predicting auction performance, but...

We use theory and experiment to explore the performance of multi-round, price-guided, combinatorial auctions. We define efficiency-relevant and core-relevant packages and show that if bidders bid aggressively on these and losing bidders bid to their limits, then the auction leads to efficient or...