Pricing Commodities, or How to Sell When Buyers Have Restricted Valuations -- Improved Lower Bounds for Non-utilitarian Truthfulness -- Buyer-Supplier Games: Optimization over the Core -- Very Large-Scale Neighborhoods with Performance Guarantees for Minimizing Makespan on Parallel Machines -- A 3/2-Approximation for the Proportionate Two-Machine Flow Shop Scheduling with Minimum Delays -- Online Algorithm for Parallel Job Scheduling and Strip Packing -- Geometric Spanners with Small Chromatic Number -- Approximating Largest Convex Hulls for Imprecise Points -- A 2-Approximation Algorithm for the Metric 2-Peripatetic Salesman Problem -- Covering the Edges of Bipartite Graphs Using K 2,2 Graphs -- On Min-Max r-Gatherings -- On the Max Coloring Problem -- Full and Local Information in Distributed Decision Making -- The Minimum Substring Cover Problem -- A 5/3-Approximation for Finding Spanning Trees with Many Leaves in Cubic Graphs -- On the Online Unit Clustering Problem -- Better Bounds for Incremental Medians -- Minimum Weighted Sum Bin Packing -- Approximation Schemes for Packing Splittable Items with Cardinality Constraints -- A Randomized Algorithm for Two Servers in Cross Polytope Spaces -- Deterministic Algorithms for Rank Aggregation and Other Ranking and Clustering Problems -- Online Rectangle Filling.

This book constitutes the thoroughly refereed post workshop proceedings of the 5th International Workshop on Approximation and Online Algorithms, WAOA 2007, held in Eilat, Israel, in October 2007 as part of the ALGO 2007 conference event. The 22 revised full papers presented were carefully reviewed and selected from 56 submissions. The workshop covered areas such as algorithmic game theory, approximation classes, coloring and partitioning, competitive analysis, computational finance, cuts and connectivity, geometric problems, inapproximability results, mechanism design, network design, packing and covering, paradigms for design and analysis of approximation and online algorithms, randomization techniques, real-world applications, and scheduling problems.