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Multi-Unit Auction Revenue with Possibilistic Beliefs

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dc.contributor.advisor Silvio Micali
dc.contributor.author Micali, Silvio en_US
dc.contributor.author Vlachos, Georgios en_US
dc.contributor.other Theory of Computation en
dc.date.accessioned 2017-06-07T22:00:04Z
dc.date.available 2017-06-07T22:00:04Z
dc.date.issued 2017-06-05
dc.identifier.uri http://hdl.handle.net/1721.1/109726
dc.description.abstract The revenue of traditional auction mechanisms is benchmarked solely against the players' own valuations, despite the fact that they may also have valuable beliefs about each other's valuations. Not much is known about generating revenue in auctions of multiple identical copies of a same good. (In particular the celebrated Vickrey mechanism has no revenue guarantees.) For such auctions, we (1) put forward an attractive revenue benchmark, based on the players' possibilistic about each other, and (2) construct a mechanism that achieves such benchmark, assuming that the players are two-level rational (where the rationality is in the sense of Aumann). en_US
dc.format.extent 20 p. en_US
dc.relation.ispartofseries MIT-CSAIL-TR-2017-010
dc.subject Multi-unit auctions en_US
dc.subject Possibilistic beliefs en_US
dc.title Multi-Unit Auction Revenue with Possibilistic Beliefs en_US
dc.date.updated 2017-06-07T22:00:05Z


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