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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 question obviously depends on the particulars of the environment: the feasibility constraint and the distributions from which the bidders private values are sampled. Rather than solving the problem in particular special cases, our work aims to provide universal lower bounds on the revenue-to-welfare ratio that hold under the most general hypotheses that allow for non-trivial such bounds. Our results can be summarized as follows. For general feasibility constraints, the revenue-to-welfare ratio is at least a constant times the inverse-square-root of the number of agents, and this is tight up to constant factors. For downward-closed feasibility constraints, the revenue-to-welfare ratio is bounded below by a constant. Both results require the bidders distributions to satisfy hypotheses somewhat stronger than regularity; we show that the latter result cannot avoid this requirement.
In quasi-proportional auctions, each bidder receives a fraction of the allocation equal to the weight of their bid divided by the sum of weights of all bids, where each bids weight is determined by a weight function. We study the relationship between
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
Bike sharing systems have been widely deployed around the world in recent years. A core problem in such systems is to reposition the bikes so that the distribution of bike supply is reshaped to better match the dynamic bike demand. When the bike-shar
We study equilibria of markets with $m$ heterogeneous indivisible goods and $n$ consumers with combinatorial preferences. It is well known that a competitive equilibrium is not guaranteed to exist when valuations are not gross substitutes. Given the
We consider revenue-optimal mechanism design in the interdimensional setting, where one dimension is the value of the buyer, and one is a type that captures some auxiliary information. One setting is the FedEx Problem, for which FGKK [2016] character