Related papers: Auction Type Resolution on Smart Derivatives
In online auctions, fraudulent behaviors such as shill bidding pose significant risks. This paper presents a conceptual framework that applies dynamic, behavior-based penalties to deter auction fraud using blockchain smart contracts. Unlike…
Automated bidding, an emerging intelligent decision making paradigm powered by machine learning, has become popular in online advertising. Advertisers in automated bidding evaluate the cumulative utilities and have private financial…
Financial options are contracts that specify the right to buy or sell an underlying asset at a strike price by an expiration date. Standard exchanges offer options of predetermined strike values and trade options of different strikes…
In this paper we consider multidimensional mechanism design problem for selling discrete substitutable items to a group of buyers. Previous work on this problem mostly focus on stochastic description of valuations used by the seller.…
In this paper, we develop a new method for finding an optimal biddingstrategy in sequential auctions, using a dynamic programming technique. Theexisting method assumes that the utility of a user is represented in anadditive form. Thus, the…
Smart contract technology is reshaping conventional industry and business processes. Being embedded in blockchains, smart contracts enable the contractual terms of an agreement to be enforced automatically without the intervention of a…
We present a new model for credit index derivatives, in the top-down approach. This model has a dynamic loss intensity process with volatility and jumps and can include counterparty risk. It handles CDS, CDO tranches, Nth-to-default and…
We are interested in the problem of optimal commitments in rank-and-bid based auctions, a general class of auctions that include first price and all-pay auctions as special cases. Our main contribution is a novel approach to solve for…
Inspired by the recent developments in the field of Spectrum Auctions, we have tried to provide a comprehensive framework for the complete procedure of Spectrum Licensing. We have identified the various issues the Governments need to decide…
Advertisement auctions play a crucial role in revenue generation for e-commerce companies. To make the bidding procedure scalable to thousands of auctions, the automatic bidding (autobidding) algorithms are actively developed in the…
Scientific studies often require the precise calculation of derivatives. In many cases an analytical calculation is not feasible and one resorts to evaluating derivatives numerically. These are error-prone, especially for higher-order…
This paper studies a wireless network where multiple users cooperate with each other to improve the overall network performance. Our goal is to design an optimal distributed power allocation algorithm that enables user cooperation, in…
Several models for the pricing of derivative securities in illiquid markets are discussed. A typical type of nonlinear partial differential equations arising from these investigation is studied. The scaling properties of these equations are…
Massively scalable web applications encounter a fundamental tension in computing between "performance" and "correctness": performance is often addressed by using a large and therefore distributed machine where programs are multi-threaded…
In this position paper, we consider some foundational topics regarding smart contracts (such as terminology, automation, enforceability, and semantics) and define a smart contract as an automatable and enforceable agreement. We explore a…
With a market capitalisation of over USD 205 billion in just under ten years, public distributed ledgers have experienced significant adoption. Apart from novel consensus mechanisms, their success is also accountable to smart contracts.…
We propose and develop a framework for validating smart contracts derived from e-contracts. The goal is to ensure the generated smart contracts fulfil all the conditions outlined in their corresponding e-contracts. By confirming alignment…
I study a repeated auction in which payments are made with a blockchain token created and initially owned by the auction designer. Unlike the ``virtual money'' previously examined in mechanism design, such tokens can be saved and traded…
Blockchain technology and artificial intelligence (AI) are current hot topics in research and practice. However, the potentials of their combination have been studied just recently to a larger extend. While different use cases for combining…
This paper describes a study of agent bidding strategies, assuming combinatorial valuations for complementary and substitutable goods, in three auction environments: sequential auctions, simultaneous auctions, and the Trading Agent…