Related papers: Large Market Games with Near Optimal Efficiency
Game-theoretic models relevant for computer science applications usually feature a large number of players. The goal of this paper is to develop an analytical framework for bounding the price of anarchy in such models. We demonstrate the…
The rise of automated bidding strategies in online advertising presents new challenges in designing and analyzing efficient auction mechanisms. In this paper, we focus on proportional mechanisms within the context of auto-bidding and study…
We study the efficiency of the proportional allocation mechanism, that is widely used to allocate divisible resources. Each agent submits a bid for each divisible resource and receives a fraction proportional to her bids. We quantify the…
The Price of Anarchy (PoA) is a well-established game-theoretic concept to shed light on coordination issues arising in open distributed systems. Leaving agents to selfishly optimize comes with the risk of ending up in sub-optimal states…
We investigate the price of anarchy (PoA) in non-atomic congestion games when the total demand $T$ gets very large. First results in this direction have recently been obtained by \cite{Colini2016On, Colini2017WINE, Colini2017arxiv} for…
Central results in economics guarantee the existence of efficient equilibria for various classes of markets. An underlying assumption in early work is that agents are price-takers, i.e., agents honestly report their true demand in response…
This paper examines the impact of agents' myopic optimization on the efficiency of systems comprised by many selfish agents. In contrast to standard congestion games where agents interact in a one-shot fashion, in our model each agent…
Incorporating budget constraints into the analysis of auctions has become increasingly important, as they model practical settings more accurately. The social welfare function, which is the standard measure of efficiency in auctions, is…
We study the efficiency of non-truthful auctions for auto-bidders with both return on spend (ROS) and budget constraints. The efficiency of a mechanism is measured by the price of anarchy (PoA), which is the worst case ratio between the…
A central question in algorithmic game theory is to measure the inefficiency (ratio of costs) of Nash equilibria (NE) with respect to socially optimal solutions. The two established metrics used for this purpose are price of anarchy (POA)…
The price of anarchy (PoA) is a popular metric for analyzing the inefficiency of self-interested decision making. Although its study is widespread, characterizing the PoA can be challenging. A commonly employed approach is based on the…
We study a game with \emph{strategic} vendors who own multiple items and a single buyer with a submodular valuation function. The goal of the vendors is to maximize their revenue via pricing of the items, given that the buyer will buy the…
There have been great efforts in studying the cascading behavior in social networks such as the innovation diffusion, etc. Game theoretically, in a social network where individuals choose from two strategies: A (the innovation) and B (the…
Auto-bidding is now widely adopted as an interface between advertisers and internet advertising as it allows advertisers to specify high-level goals, such as maximizing value subject to a value-per-spend constraint. Prior research has…
According to the proportional allocation mechanism from the network optimization literature, users compete for a divisible resource -- such as bandwidth -- by submitting bids. The mechanism allocates to each user a fraction of the resource…
The congestion pricing is an efficient allocation approach to mediate demand and supply of network resources. Different from the previous pricing using Affine Marginal Cost (AMC), we focus on studying the game between network coding and…
Auto-bidding is an area of increasing importance in the domain of online advertising. We study the problem of designing auctions in an auto-bidding setting with the goal of maximizing welfare at system equilibrium. Previous results showed…
Motivated by recent progress on pricing in the AI literature, we study marketplaces that contain multiple vendors offering identical or similar products and unit-demand buyers with different valuations on these vendors. The objective of…
Posted price mechanisms are prevalent in allocating goods within online marketplaces due to their simplicity and practical efficiency. We explore a fundamental scenario where buyers' valuations are independent and identically distributed,…
In various markets where sellers compete in price, price oscillations are observed rather than convergence to equilibrium. Such fluctuations have been empirically observed in the retail market for gasoline, in airline pricing and in the…