On Revenue Optimal Combinatorial Auctions - IFP Group at the ...

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Efficient Auctions An allocation of items among buyers generates value for the items. The realized social welfare (RSW) = total value generated through the allocation of items. An efficient auction maximizes the realized social welfare. For a bid vector v, an efficient allocation is a probability ( ∑ ) distribution on argmax v n . A∈A n∈A
Some Questions How different is a revenue optimal auction from an efficient auction? What causes these differences? How to quantify this difference? What are the underlying parameters? We answer these.
Page 1 and 2: On Revenue Optimal Combinatorial Au
Page 3 and 4: What Makes It Hard? Private values:
Page 5 and 6: Our Contributions Most of the liter
Page 7 and 8: Outline 1 Review of revenue optimal
Page 9 and 10: Model A Bayesian framework The valu
Page 11 and 12: The Components of an Auction .Bid v
Page 13 and 14: The Constraints First, focus on one
Page 15 and 16: Geometric Interpretation Let A 0 (
Page 17 and 18: Simplifying the Constraints A payme
Page 19 and 20: Graphical Construction of Virtual V
Page 27 and 28: The Optimal Auction Problem Extendi
Page 29 and 30: Simplifying OAP Revenue(π) maximu
Page 31 and 32: The Maximum Weight Algorithm (MWA)
Page 33: Outline 1 Review of revenue optimal
Page 37 and 38: Revenue vs Efficiency - Example 1 T
Page 43 and 44: Revenue vs Efficiency - Example 3 E
Page 45 and 46: Quantifying Efficiency Loss For an
Page 47 and 48: Worst Case ELR Computation - Exampl
Page 49 and 50: Worst Case ELR Computation - Exampl
Page 51 and 52: ELR Bound - Single Item Auctions wi
Page 53 and 54: Limitations of General CAs Implemen
Page 55 and 56: Why Study Single-Minded Buyers Mode
Page 57 and 58: Extending the Model to Single-Minde
Page 59 and 60: Does It Work? Buyer 1 Buyer 2 1 1/2
Page 61 and 62: Does It Work? Buyer 1 Buyer 2 1 1/2
Page 63 and 64: The Sufficient Condition Hazard rat
Page 65: Concluding Remarks A revenue optima

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