Related papers: No Ascending Auction can find Equilibrium for SubM…
The competition complexity of an auction setting is the number of additional bidders needed such that the simple mechanism of selling items separately (with additional bidders) achieves greater revenue than the optimal but complex…
We study individual rational, Pareto optimal, and incentive compatible mechanisms for auctions with heterogeneous items and budget limits. For multi-dimensional valuations we show that there can be no deterministic mechanism with these…
We develop a unified ascending-auction framework for computing Walrasian equilibria in combinatorial markets with strong substitutes valuations and piecewise-linear payment functions. Our auction extends the celebrated ascending auctions of…
We introduce a model of fair division with market values, where indivisible goods must be partitioned among agents with (additive) subjective valuations, and each good additionally has a market value. The market valuation can be viewed as a…
We consider incentive compatible mechanisms for a domain that is very close to the domain of scheduling $n$ unrelated machines: the single exception is that the valuation of just one machine is submodular. For the scheduling problem with…
We give a simpler analysis of the ascending auction of Bikhchandani, de Vries, Schummer, and Vohra to sell a welfare-maximizing base of a matroid at Vickrey prices. The new proofs for economic efficiency and the charge of Vickrey prices…
Fair division has emerged as a very hot topic in multiagent systems, and envy-freeness is among the most compelling fairness concepts. An allocation of indivisible items to agents is envy-free if no agent prefers the bundle of any other…
In the private values single object auction model, we construct a satisfactory mechanism - a symmetric, dominant strategy incentive compatible, and budget-balanced mechanism. Our mechanism allocates the object to the highest valued agent…
In many first-price auctions, bidders face considerable strategic uncertainty: They cannot perfectly anticipate the other bidders' bidding behavior. We propose a model in which bidders do not know the entire distribution of opponent bids…
We study the optimal auction design problem when bidders' preferences follow the maxmin expected utility model. We suppose that each bidder's set of priors consists of beliefs close to the seller's belief, where "closeness" is defined by a…
We present our results on Uniform Price Auctions, one of the standard sealed-bid multi-unit auction formats, for selling multiple identical units of a single good to multi-demand bidders. Contrary to the truthful and economically efficient…
An indivisible object may be sold to one of $n$ agents who know their valuations of the object. The seller would like to use a revenue-maximizing mechanism but her knowledge of the valuations' distribution is scarce: she knows only the…
We exhibit incentive compatible multi-unit auctions that are not affine maximizers (i.e., are not of the VCG family) and yet approximate the social welfare to within a factor of $1+\epsilon$. For the case of two-item two-bidder auctions we…
We consider portfolio selection under nonparametric $\alpha$-maxmin ambiguity in the neighbourhood of a reference distribution. We show strict concavity of the portfolio problem under ambiguity aversion. Implied demand functions are…
We study the robust double auction mechanisms, that is, the double auction mechanisms that satisfy dominant strategy incentive compatibility, ex-post individual rationality and ex-post budget balance. We first establish that the price in…
We study the Price of Anarchy of simultaneous first-price auctions for buyers with submodular and subadditive valuations. The current best upper bounds for the Bayesian Price of Anarchy of these auctions are e/(e-1) [Syrgkanis and Tardos…
Auctions are important mechanisms extensively implemented in various markets, e.g., search engines' keyword auctions, antique auctions, etc. Finding an optimal auction mechanism is extremely difficult due to the constraints of imperfect…
We study best-of-both-worlds guarantees for the fair division of indivisible items among agents with subadditive valuations. Our main result establishes the existence of a random allocation that is simultaneously ex-ante…
We derive valuations of a portfolio of financial instruments from a securities lending perspective, under different assumptions, and show a weighting scheme that converges to the true valuation. We illustrate conditions under which our…
Complements between goods - where one good takes on added value in the presence of another - have been a thorn in the side of algorithmic mechanism designers. On the one hand, complements are common in the standard motivating applications…