auction seminar : revenue equivalence
DESCRIPTION
Auction Seminar : Revenue Equivalence. Presentation by Liran Zusman Supervised by Amos Fiat. Our Goals. המטרה שלנו היום: איפיונים של BNE סיכום השיעור הקודם שקילות מכרזים מציאת BNE אם הזמן יאפשר: תוחלת הרווח של מנהל המכירה. Curriculum. Quick Review - PowerPoint PPT PresentationTRANSCRIPT
Auction Seminar : Revenue Equivalence
Auction Seminar : Revenue EquivalencePresentation by Liran ZusmanSupervised by Amos Fiat
: 1Our Goals : BNE BNE
:
CurriculumQuick ReviewCharacterization of Bayes-Nash EquilibriumRevenue EquivalenceExamplesDesigning auctions to maximize profit
, 4DefinitionsLemma7Characterization of Bayes-Nash Equilibrium : , , . Sanity check. 1,3, . , .
8Proof Sketch ! . .9Notes10Revenue Equivalence
11One Last Corollary
Proof13
First-Price Auction
15Why is it BNE?16Dominated bid
17Example18What Does It Mean?
All-Pay Auction: !
: . . , !
: !
Claim
: Vickrey, F. , .21ProofWar-of-Attrition Auction :
Vickrey. ...
!: ,
Motivation , :
. . , . . , .
: ...Claim
Proof26
Something to Think About :
2 , .
: , ., .
, ...Designing Auctions to Maximize ProfitIntroduction , . , !
, ?? Revenue Equivalence: , ., , .30Possible Solution Second-Price Auction : Truthful, , . ?
!
2nd price - 1990, 100,000$ - 6$ !!
Vickrey ?: 31Reserve Price:Vickrey Auction with a reserve price r Sealed-bid Second-Price Auction, r, r .
: Vickrey Truthful
: , Vickrey , -r. .
Proof Vickrey r. Truthful:
n . n+1, r. Vickrey , : n -r, .
" ", (=) Truthful .ExampleAnalysis
35Analysis cnt.Homework
37Thanks for Listening