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• W2421033574 abstract "We study interdependent value settings and extend several results from the well-studied independent private values model to these settings. For revenue-optimal mechanism design, we give conditions under which Myerson's virtual value-based mechanism remains optimal with interdependent values. One of these conditions is robustness of the truthfulness and individual rationality guarantees, in the sense that they are required to hold ex-post. We then consider an even more robust class of mechanisms called “prior independent” (“detail free”), and show that, by simply using one of the bidders to set a reserve price, it is possible to extract near-optimal revenue in an interdependent values setting. This shows that a considerable level of robustness is achievable for interdependent values in single-parameter environments." @default.
• W2421033574 created "2016-06-24" @default.
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• W2421033574 date "2016-06-15" @default.
• W2421033574 modified "2023-09-30" @default.
• W2421033574 title "Optimal and Robust Mechanism Design with Interdependent Values" @default.
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• W2421033574 doi "https://doi.org/10.1145/2910577" @default.
• W2421033574 hasPublicationYear "2016" @default.
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