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تسجيل مستخدم جديدInference from Auction Prices
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Econometric inference allows an analyst to back out the values of agents in a mechanism from the rules of the mechanism and bids of the agents. This paper gives an algorithm to solve the problem of inferring the values of agents in a dominant-strategy mechanism from the social choice function implemented by the mechanism and the per-unit prices paid by the agents (the agent bids are not observed). For single-dimensional agents, this inference problem is a multi-dimensional inversion of the payment identity and is feasible only if the payment identity is uniquely invertible. The inversion is unique for single-unit proportional weights social choice functions (common, for example, in bandwidth allocation); and its inverse can be found efficiently. This inversion is not unique for social choice functions that exhibit complementarities. Of independent interest, we extend a result of Rosen (1965), that the Nash equilbria of concave games are unique and pure, to an alternative notion of concavity based on Gale and Nikaido (1965).
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Walrasian equilibrium prices can be said to coordinate markets: They support a welfare optimal allocation in which each buyer is buying bundle of goods that is individually most preferred. However, this clean story has two caveats. First, the prices
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Designing an incentive compatible auction that maximizes expected revenue is a central problem in Auction Design. While theoretical approaches to the problem have hit some limits, a recent research direction initiated by Duetting et al. (2019) consis
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