Simultaneous auctions are (almost) efficient

Proceedings of the Annual ACM Symposium on Theory of Computing

Volumn , Issue , 2013, Pages 201-209

  Feldman, Michal ^a   Fu, Hu ^b   Gravin, Nick ^c   Lucier, Brendan ^d  

^a HEBREW UNIVERSITY OF JERUSALEM   (Israel)

^b Department of Obstetrics Gynecology   (United States)

^c NANYANG TECHNOLOGICAL UNIVERSITY   (Singapore)

^d MICROSOFT RESEARCH   (United States)

Author keywords

Bayes nash equilibrium; First price auction; Price of anarchy; Second price auc tion; Simultaneous auction

Indexed keywords

BAYES-NASH EQUILIBRIUM; FIRST-PRICE AUCTION; PRICE OF ANARCHY; SECOND-PRICE AUC- TION; SIMULTANEOUS AUCTIONS;

COMMERCE; COMPUTATION THEORY; COST ACCOUNTING; GAME THEORY; OPTIMIZATION; TELECOMMUNICATION NETWORKS;

COSTS;

EID: 84879803369     PISSN: 07378017     EISSN: None     Source Type: Conference Proceeding    
DOI: 10.1145/2488608.2488634     Document Type: Conference Paper

References (24)

1. Noga Alon, Yuval Emek, Michal Feldman, and Moshe Tennenholtz. Bayesian ignorance. In PODC, pages 384-391, 2010.
2. Kshipra Bhawalkar and Tim Roughgarden. Welfare guarantees for combinatorial auctions with item bidding. In SODA, pages 700-709, 2011.
3. Kshipra Bhawalkar and Tim Roughgarden. Simultaneous single-item auctions. In WINE, 2012.
4. Sushil Bikhchandani. Auctions of heterogeneous objects. Games and Economic Behavior, 26(2): 193-220, 1999.
5. Ioannis Caragiannis, Panagiotis Kanellopoulos, Christos Kaklamanis, and Maria Kyropoulou. On the efficiency of equilibria in generalized second price auctions. In EC, pages 81-90, 2011.
6. George Christodoulou, Annamária Kovács, and Michael Schapira. Bayesian combinatorial auctions. In ICALP, pages 820-832, 2008.
7. Benjamin Edelman, Michael Ostrovsky, Michael Schwarz, Thank Drew Fudenberg, Louis Kaplow, Robin Lee, Paul Milgrom, Muriel Niederle, and Ariel Pakes. Internet advertising and the generalized second price auction: Selling billions of dollars worth of keywords. American Economic Review, 97, 2005.
8. Uriel Feige. On maximizing welfare when utility functions are subadditive. SIAM J. Comput., 39(1): 122-142, 2009.
9. Hu Fu, Robert Kleinberg, and Ron Lavi. Conditional equilibrium outcomes via ascending price processes with applications to combinatorial auctions with item bidding. In EC, page 586, 2012.
10. Faruk Gul and Ennio Stacchetti. Walrasian equilibrium with gross substitutes. Journal of Economic Theory, 87(1):95-124, 1999.
11. Avinatan Hassidim, Haim Kaplan, Yishay Mansour, and Noam Nisan. Non-price equilibria in markets of discrete goods. In EC, pages 295-296, 2011.
12. Elias Koutsoupias and Christos Papadimitriou. Worst-case equilibria. In STACS, pages 404-413, 1999.
13. Benny Lehmann, Daniel J. Lehmann, and Noam Nisan. Combinatorial auctions with decreasing marginal utilities. Games and Economic Behavior, 55 (2):270-296, 2006.
14. Brendan Lucier and Allan Borodin. Price of anarchy for greedy auctions. In SODA, pages 537-553, 2010.
15. Brendan Lucier and Renato Paes Leme. Gsp auctions with correlated types. In EC, pages 71-80, 2011.
16. J. Mamer and S. Bikhchandani. Competitive equilibrium in an exchange economy with indivisibilities. Journal of Economic Theory, 74: 385-413, 1997.
17. Evangelos Markakis and Orestis Telelis. Uniform price auctions: Equilibria and efficiency. In SAGT, pages 227-238, 2012.
18. Paul Milgrom. Putting auction theory to work: The simultaneous ascending auction. Journal of Political Economy, 108:245-272, 1998.
19. Noam Nisan, Tim Roughgarden, Eva Tardos, and Vijay V. Vazirani. Algorithmic Game Theory. Cambridge University Press, New York, NY, USA, 2007.
20. Renato Paes Leme and Éva Tardos. Pure and bayes-nash price of anarchy for generalized second price auction. In FOCS, pages 735-744, 2010.
21. Tim Roughgarden. The price of anarchy in games of incomplete information. In EC, pages 862-879, 2012.
22. Tim Roughgarden and Éva Tardos. Introduction to the inefficiency of equilibria. In Noam Nisan, Tim Roughgarden, Eva Tardos, and Vijay V. Vazirani, editors, Algorithmic Game Theory. Cambridge University Press, New York, NY, USA, 2007.
23. Vasilis Syrgkanis. Bayesian games and the smoothness framework. CoRR, abs/1203.5155, 2012.
24. Hal R. Varian. Position auctions. International Journal of Industrial Organization, 25(6):1163-1178, 2007.