Related papers: When Bidders Are DAOs
A multiagent system may be thought of as an artificial society of autonomous software agents and we can apply concepts borrowed from welfare economics and social choice theory to assess the social welfare of such an agent society. In this…
We consider an environment where sellers compete over buyers. All sellers are a-priori identical and strategically signal buyers about the product they sell. In a setting motivated by on-line advertising in display ad exchanges, where firms…
Cooperation underlies many aspects of the evolution of human and animal societies, where cooperators produce social goods to benefit others. Explaining the emergence of cooperation among selfish individuals has become a major research…
Classic results show that even an arbitrarily small correlation across bidders' information can enable full surplus extraction in auctions and related mechanism design settings. Motivated by this fragility, we study the information…
A seller wants to sell an item to $n$ buyers. Buyer valuations are drawn i.i.d. from a distribution unknown to the seller; the seller only knows that the support is included in $[a, b]$. To be robust, the seller chooses a DSIC mechanism…
In recent years, the blockchain-based Internet of Things (IoT) has been researched and applied widely, where each IoT device can act as a node in the blockchain. However, these lightweight nodes usually do not have enough computing power to…
Optimal mechanisms have been provided in quite general multi-item settings, as long as each bidder's type distribution is given explicitly by listing every type in the support along with its associated probability. In the implicit setting,…
In cloud investment markets, consumers are looking for the lowest cost and a desirable fairness while providers are looking for strategies to achieve the highest possible profit and return. Most existing models for auction-based resource…
Decentralized Autonomous Organizations (DAOs), utilizing blockchain technology to enable collective governance, are a promising innovation. This research addresses the ongoing query in blockchain governance: How can DAOs optimize human…
Sharing economy is a distributed peer-to-peer economic paradigm, which gives rise to a variety of social interactions for economic purposes. One fundamental distributed decision-making process is coalition formation for sharing certain…
Can the general structure of a mortgage-backed security (MBS) contract be programmatically represented through the use of decentralized autonomous organizations (DAOs)? Such an approach could allow for the portfolio of loans to be managed…
We design a mechanism for Fair and Efficient Distribution of Resources (FEDoR) in the presence of strategic agents. We consider a multiple-instances, Bayesian setting, where in each round the preference of an agent over the set of resources…
To successfully complete a complex project, be it a construction of an airport or of a backbone IT system, agents (companies or individuals) must form a team having required competences and resources. A team can be formed either by the…
In non-truthful auctions such as first-price and all-pay auctions, the independent strategic behaviors of bidders, with the corresponding Bayes-Nash equilibrium notion, are notoriously difficult to characterize and can cause undesirable…
Double Auction enables decentralized transfer of goods between multiple buyers and sellers, thus underpinning functioning of many online marketplaces. Buyers and sellers compete in these markets through bidding, but do not often know their…
High-stakes auctions are often preceded by nonbinding communication between bidders and the seller. Motivated by these practices, this paper examines a two-period model in which two bidders send private cheap talk messages to the seller…
Real-time bidding, as one of the most popular mechanisms for selling online ad slots, facilitates advertisers to reach their potential customers. The goal of bidding optimization is to maximize the advertisers' return on investment (ROI)…
We develop multiattribute auctions that accommodate generalized additive independent (GAI) preferences. We propose an iterative auction mechanism that maintains prices on potentially overlapping GAI clusters of attributes, thus decreases…
Budget-feasible procurement auctions play a pivotal role in various AI-driven marketplaces, such as data acquisition and crowdsourcing, where a buyer with a limited budget seeks to procure services from strategic sellers with private costs.…
A combinatorial market consists of a set of indivisible items and a set of agents, where each agent has a valuation function that specifies for each subset of items its value for the given agent. From an optimization point of view, the goal…