Matches in SemOpenAlex for { <https://semopenalex.org/work/W4301182017> ?p ?o ?g. }
Showing items 1 to 71 of
71
with 100 items per page.
- W4301182017 abstract "Budgets play a significant role in real-world sequential auction markets such as those implemented by internet companies. To maximize the value provided to auction participants, spending is smoothed across auctions so budgets are used for the best opportunities. Motivated by a mechanism used in practice by several companies, this paper considers a smoothing procedure that relies on {em pacing multipliers}: on behalf of each buyer, the auction market applies a factor between 0 and 1 that uniformly scales the bids across all auctions. Reinterpreting this process as a game between buyers, we introduce the notion of {em pacing equilibrium}, and prove that they are always guaranteed to exist. We demonstrate through examples that a market can have multiple pacing equilibria with large variations in several natural objectives. We show that pacing equilibria refine another popular solution concept, competitive equilibria, and show further connections between the two solution concepts. Although we show that computing either a social-welfare-maximizing or a revenue-maximizing pacing equilibrium is NP-hard, we present a mixed-integer program (MIP) that can be used to find equilibria optimizing several relevant objectives. We use the MIP to provide evidence that: (1) equilibrium multiplicity occurs very rarely across several families of random instances, (2) static MIP solutions can be used to improve the outcomes achieved by a dynamic pacing algorithm with instances based on a real-world auction market, and (3) for the instances we study, buyers do not have an incentive to misreport bids or budgets provided there are enough participants in the auction." @default.
- W4301182017 created "2022-10-04" @default.
- W4301182017 creator A5050903632 @default.
- W4301182017 creator A5060804168 @default.
- W4301182017 creator A5063786888 @default.
- W4301182017 creator A5083207349 @default.
- W4301182017 date "2017-06-21" @default.
- W4301182017 modified "2023-09-27" @default.
- W4301182017 title "Multiplicative Pacing Equilibria in Auction Markets" @default.
- W4301182017 doi "https://doi.org/10.48550/arxiv.1706.07151" @default.
- W4301182017 hasPublicationYear "2017" @default.
- W4301182017 type Work @default.
- W4301182017 citedByCount "0" @default.
- W4301182017 crossrefType "posted-content" @default.
- W4301182017 hasAuthorship W4301182017A5050903632 @default.
- W4301182017 hasAuthorship W4301182017A5060804168 @default.
- W4301182017 hasAuthorship W4301182017A5063786888 @default.
- W4301182017 hasAuthorship W4301182017A5083207349 @default.
- W4301182017 hasBestOaLocation W43011820171 @default.
- W4301182017 hasConcept C11276805 @default.
- W4301182017 hasConcept C121955636 @default.
- W4301182017 hasConcept C126255220 @default.
- W4301182017 hasConcept C134306372 @default.
- W4301182017 hasConcept C144237770 @default.
- W4301182017 hasConcept C147220207 @default.
- W4301182017 hasConcept C162324750 @default.
- W4301182017 hasConcept C163239763 @default.
- W4301182017 hasConcept C175444787 @default.
- W4301182017 hasConcept C194291561 @default.
- W4301182017 hasConcept C195487862 @default.
- W4301182017 hasConcept C29122968 @default.
- W4301182017 hasConcept C33923547 @default.
- W4301182017 hasConcept C41008148 @default.
- W4301182017 hasConcept C42747912 @default.
- W4301182017 hasConcept C48278072 @default.
- W4301182017 hasConcept C59919655 @default.
- W4301182017 hasConcept C91810955 @default.
- W4301182017 hasConceptScore W4301182017C11276805 @default.
- W4301182017 hasConceptScore W4301182017C121955636 @default.
- W4301182017 hasConceptScore W4301182017C126255220 @default.
- W4301182017 hasConceptScore W4301182017C134306372 @default.
- W4301182017 hasConceptScore W4301182017C144237770 @default.
- W4301182017 hasConceptScore W4301182017C147220207 @default.
- W4301182017 hasConceptScore W4301182017C162324750 @default.
- W4301182017 hasConceptScore W4301182017C163239763 @default.
- W4301182017 hasConceptScore W4301182017C175444787 @default.
- W4301182017 hasConceptScore W4301182017C194291561 @default.
- W4301182017 hasConceptScore W4301182017C195487862 @default.
- W4301182017 hasConceptScore W4301182017C29122968 @default.
- W4301182017 hasConceptScore W4301182017C33923547 @default.
- W4301182017 hasConceptScore W4301182017C41008148 @default.
- W4301182017 hasConceptScore W4301182017C42747912 @default.
- W4301182017 hasConceptScore W4301182017C48278072 @default.
- W4301182017 hasConceptScore W4301182017C59919655 @default.
- W4301182017 hasConceptScore W4301182017C91810955 @default.
- W4301182017 hasLocation W43011820171 @default.
- W4301182017 hasOpenAccess W4301182017 @default.
- W4301182017 hasPrimaryLocation W43011820171 @default.
- W4301182017 hasRelatedWork W1990303393 @default.
- W4301182017 hasRelatedWork W2261495559 @default.
- W4301182017 hasRelatedWork W2351306948 @default.
- W4301182017 hasRelatedWork W2357779441 @default.
- W4301182017 hasRelatedWork W2362999972 @default.
- W4301182017 hasRelatedWork W3122603591 @default.
- W4301182017 hasRelatedWork W3125612907 @default.
- W4301182017 hasRelatedWork W3166608243 @default.
- W4301182017 hasRelatedWork W4205459916 @default.
- W4301182017 hasRelatedWork W4206317043 @default.
- W4301182017 isParatext "false" @default.
- W4301182017 isRetracted "false" @default.
- W4301182017 workType "article" @default.