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We present a polynomial-time algorithm that, given samples from the unknown valuation distribution of each bidder, learns an auction that approximately maximizes the auctioneers revenue in a variety of single-parameter auction environments including matroid environments, position environments, and the public project environment. The valuation distributions may be arbitrary bounded distributions (in particular, they may be irregular, and may differ for the various bidders), thus resolving a problem left open by previous papers. The analysis uses basic tools, is performed in its entirety in value-space, and simplifies the analysis of previously known results for special cases. Furthermore, the analysis extends to certain single-parameter auction environments where precise revenue maximization is known to be intractable, such as knapsack environments.
Most work in mechanism design assumes that buyers are risk neutral; some considers risk aversion arising due to a non-linear utility for money. Yet behavioral studies have established that real agents exhibit risk attitudes which cannot be captured b
We study mechanisms for selling a single item when buyers have private values for their outside options, which they forego by participating in the mechanism. This substantially changes the revenue maximization problem. For example, the seller can str
What fraction of the potential social surplus in an environment can be extracted by a revenue-maximizing monopolist? We investigate this problem in Bayesian single-parameter environments with independent private values. The precise answer to the ques
The literature on mechanism design from samples, which has flourished in recent years at the interface of economics and computer science, offers a bridge between the classic computer-science approach of worst-case analysis (corresponding to no sample
The design of revenue-maximizing auctions with strong incentive guarantees is a core concern of economic theory. Computational auctions enable online advertising, sourcing, spectrum allocation, and myriad financial markets. Analytic progress in this