PPT-Near - Optimal Simple and Prior-Independent Auctions

Tim Roughgarden Stanford 2 Motivation Optimal auction design whats the point One primary reason suggests auction formats likely to perform well in practice Exhibit A singleitem . 30pm We also hold a light commercial auction every other Thursday afternoon at 300pm We also hold a number of special sales each year for Sports and High Performance Cars and also Four Wheel Drive and Diesel Vehicles Our sales calendar and further in Ascending Auctions Peter Cramton Abstract A key question of auction design is whether to use an ascendingbid or a sealedbid format The critical distinction between formats is that an ascending au ction provides the bidders with information through t Petar. . Petrov. ECON 1465, Fall 2010 . Brown University. What is a Treasury. U.S. Government debt obligations backed by its full faith and credit. Bills (< 1y), Notes (1-5y), Bonds (>5y), TIPS. Robust Approximation Bounds for . Equilibria. and Auctions. Tim . Roughgarden. Stanford University. 2. Motivation. Clearly: . many modern applications in CS involve autonomous, self-interested agents. Ramki. . Gummadi. . Stanford . University. . (Based on joint work with P. Key and A. . Proutiere. ). Overview. Introduction/Motivation. Budgeted Second Price Auctions. A General . O. nline . B. udgeting . Buy it Now . Gabi Lewis & Jason Lee. What are Penny Auctions?. “Win an Ipad for $40!”. Auction Format. Bid packages, bid fees, price increments, timer.. Auction or Lottery?. Winner usually pays far less than value.. The Past, Present and Future. Auctus. “Auction” derives from the Latin word “Auctus” which means “increasing”. . Babylon . 500 B.C.. The First Auctions. Women were auctioned off as wives. Abert. . Plà. eXiT. – University of . Girona. Advisors: Beatriz . López. & Javier Murillo. 1. LIP6 . Seminar. – . Université. Pierre et Marie . Curie. Paris VI (12-2-2012). eXiT: Control Engineering and Intelligent Systems. Constantinos Daskalakis. EECS, MIT. Reference:. Yang . Cai. , Constantinos Daskalakis and Matt Weinberg: . An Algorithmic Characterization of Multi-Dimensional . Mechanisms. , . STOC 2012. .. http://eccc.hpi-web.de/report/2011/172. What is the nature of the good being auctioned?. What are the rules of bidding?. Private value auction. Common value auction. Each bidder has a potentially different valuation of the good owing to tastes and preferences e.g. fine art. Outline. What they are. How they work. Who uses them. History. ?. DEBT. The U.S. national debt is approximately . $ 16.7 TRILLION. .. We fund this debt through the sale of securities.. Treasury Auctions . basic Who can use LEMA LEMA is a computer lab devoted to research in the behavioral sciences. Use of the lab must conform to all LEMA criteria; these areLab use is for the purpose of conducting rese Rosanne Hui. Market Design & Auction Theories. Presentation 12/01/2010 . The English Auction. Ascending . bids. Strategically similar to . Vickrey. auction, in which the winner pays the . second-highest bid price. “. Economically optimized nomination . phase”. 2. COEXISTENCE OF . CONTINUOUS INTRADAY . CROSS-BORDER . MARKET AND IMPLICIT INTRADAY AUCTIONS IN PRICE AREAS . (I). Continuous trading . Intraday Market .