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- W4297816098 abstract "Simultaneous ascending auctions present agents with the exposure problem: bidding to acquire a bundle risks the possibility of obtaining an undesired subset of the goods. Auction theory provides little guidance for dealing with this problem. We present a new family of decisiontheoretic bidding strategies that use probabilistic predictions of final prices. We focus on selfconfirming price distribution predictions, which by definition turn out to be correct when all agents bid decision-theoretically based on them. Bidding based on these is provably not optimal in general, but our experimental evidence indicates the strategy can be quite effective compared to other known methods." @default.
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- W4297816098 date "2012-07-04" @default.
- W4297816098 modified "2023-10-18" @default.
- W4297816098 title "Self-Confirming Price Prediction for Bidding in Simultaneous Ascending Auctions" @default.
- W4297816098 doi "https://doi.org/10.48550/arxiv.1207.1400" @default.
- W4297816098 hasPublicationYear "2012" @default.
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