Computing Reserve Prices and Identifying the Value Distribution in Real-world Auctions with Market Disruptions

@inproceedings{Walsh2008ComputingRP,
  title={Computing Reserve Prices and Identifying the Value Distribution in Real-world Auctions with Market Disruptions},
  author={William E. Walsh and David C. Parkes and Tuomas Sandholm and Craig Boutilier},
  booktitle={AAAI},
  year={2008}
}
Single-good ascending auctions, including the English Auction and its close variants (e.g. eBay), are the most widely used type of auction. Hence, effective strategies for such auctions can have an enormous economic impact. To maximize profit, a seller should try to set a reserve price high enough to extract the highest bidder’s full value without blocking the bidder out altogether. In isolated auctions where bidders have static, independent, identically distributed, private values from a known… CONTINUE READING

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