Matches in SemOpenAlex for { <https://semopenalex.org/work/W2952207628> ?p ?o ?g. }
Showing items 1 to 70 of
70
with 100 items per page.
- W2952207628 abstract "We compare the expected efficiency of revenue maximizing (or {em optimal}) mechanisms with that of efficiency maximizing ones. We show that the efficiency of the revenue maximizing mechanism for selling a single item with k + log_{e/(e-1)} k + 1 bidders is at least as much as the efficiency of the efficiency maximizing mechanism with k bidders, when bidder valuations are drawn i.i.d. from a Monotone Hazard Rate distribution. Surprisingly, we also show that this bound is tight within a small additive constant of 5.7. In other words, Theta(log k) extra bidders suffice for the revenue maximizing mechanism to match the efficiency of the efficiency maximizing mechanism, while o(log k) do not. This is in contrast to the result of Bulow and Klemperer comparing the revenue of the two mechanisms, where only one extra bidder suffices. More precisely, they show that the revenue of the efficiency maximizing mechanism with k+1 bidders is no less than the revenue of the revenue maximizing mechanism with k bidders. We extend our result for the case of selling t identical items and show that 2.2 log k + t Theta(log log k) extra bidders suffice for the revenue maximizing mechanism to match the efficiency of the efficiency maximizing mechanism. In order to prove our results, we do a classification of Monotone Hazard Rate (MHR) distributions and identify a family of MHR distributions, such that for each class in our classification, there is a member of this family that is pointwise lower than every distribution in that class. This lets us prove interesting structural theorems about distributions with Monotone Hazard Rate." @default.
- W2952207628 created "2019-06-27" @default.
- W2952207628 creator A5008057846 @default.
- W2952207628 creator A5070757517 @default.
- W2952207628 creator A5075894805 @default.
- W2952207628 date "2009-06-04" @default.
- W2952207628 modified "2023-09-23" @default.
- W2952207628 title "Efficiency of (Revenue-)Optimal Mechanisms" @default.
- W2952207628 cites W1964975266 @default.
- W2952207628 cites W2015007620 @default.
- W2952207628 cites W2029050771 @default.
- W2952207628 cites W2066957841 @default.
- W2952207628 cites W2078040677 @default.
- W2952207628 cites W2120100612 @default.
- W2952207628 cites W2127723069 @default.
- W2952207628 cites W2160747366 @default.
- W2952207628 hasPublicationYear "2009" @default.
- W2952207628 type Work @default.
- W2952207628 sameAs 2952207628 @default.
- W2952207628 citedByCount "1" @default.
- W2952207628 countsByYear W29522076282015 @default.
- W2952207628 crossrefType "posted-content" @default.
- W2952207628 hasAuthorship W2952207628A5008057846 @default.
- W2952207628 hasAuthorship W2952207628A5070757517 @default.
- W2952207628 hasAuthorship W2952207628A5075894805 @default.
- W2952207628 hasConcept C10138342 @default.
- W2952207628 hasConcept C134306372 @default.
- W2952207628 hasConcept C162324750 @default.
- W2952207628 hasConcept C175444787 @default.
- W2952207628 hasConcept C195487862 @default.
- W2952207628 hasConcept C2524010 @default.
- W2952207628 hasConcept C2777984123 @default.
- W2952207628 hasConcept C2834757 @default.
- W2952207628 hasConcept C33923547 @default.
- W2952207628 hasConceptScore W2952207628C10138342 @default.
- W2952207628 hasConceptScore W2952207628C134306372 @default.
- W2952207628 hasConceptScore W2952207628C162324750 @default.
- W2952207628 hasConceptScore W2952207628C175444787 @default.
- W2952207628 hasConceptScore W2952207628C195487862 @default.
- W2952207628 hasConceptScore W2952207628C2524010 @default.
- W2952207628 hasConceptScore W2952207628C2777984123 @default.
- W2952207628 hasConceptScore W2952207628C2834757 @default.
- W2952207628 hasConceptScore W2952207628C33923547 @default.
- W2952207628 hasLocation W29522076281 @default.
- W2952207628 hasOpenAccess W2952207628 @default.
- W2952207628 hasPrimaryLocation W29522076281 @default.
- W2952207628 hasRelatedWork W1495768673 @default.
- W2952207628 hasRelatedWork W1970408565 @default.
- W2952207628 hasRelatedWork W1986345564 @default.
- W2952207628 hasRelatedWork W2018323549 @default.
- W2952207628 hasRelatedWork W2031502124 @default.
- W2952207628 hasRelatedWork W2064345092 @default.
- W2952207628 hasRelatedWork W2123999179 @default.
- W2952207628 hasRelatedWork W2135681013 @default.
- W2952207628 hasRelatedWork W2189241046 @default.
- W2952207628 hasRelatedWork W2265392248 @default.
- W2952207628 hasRelatedWork W2513467092 @default.
- W2952207628 hasRelatedWork W2888670287 @default.
- W2952207628 hasRelatedWork W2949938500 @default.
- W2952207628 hasRelatedWork W2950725137 @default.
- W2952207628 hasRelatedWork W2951807131 @default.
- W2952207628 hasRelatedWork W2952252631 @default.
- W2952207628 hasRelatedWork W2952913391 @default.
- W2952207628 hasRelatedWork W3040926548 @default.
- W2952207628 hasRelatedWork W3044226996 @default.
- W2952207628 hasRelatedWork W3182394291 @default.
- W2952207628 isParatext "false" @default.
- W2952207628 isRetracted "false" @default.
- W2952207628 magId "2952207628" @default.
- W2952207628 workType "article" @default.