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Near-Optimal Multi-Unit Auctions with Ordered Bidders by Koutsoupias, Elias; Leonardi, Stefano; Roughgarden, Tim is a scholarly article available to read on EtoBox.

What is Near-Optimal Multi-Unit Auctions with Ordered Bidders about?

We construct prior-free auctions with constant-factor approximation guarantees with ordered bidders, in both unlimited and limited supply settings. We compare the expected revenue of our auctions on a bid vector to the monotone price benchmark, the maximum revenue that can be obtained from a bid vector using supply-respecting prices that are nonincreasing in the bidder ordering and bounded above by the second-highest bid. As a consequence, our auctions are simultaneously near-optimal in a wide range of Bayesian multi-unit environments.

Author

Koutsoupias, Elias; Leonardi, Stefano; Roughgarden, Tim

Published

2012

Language

EN