Optimal Auction Design for Agents with Hard Valuation Problems

  title={Optimal Auction Design for Agents with Hard Valuation Problems},
  author={David C. Parkes},
  booktitle={Agent Mediated Electronic Commerce},
As traditional commerce moves on-line more business transactions will be mediated by software agents, and the ability of agentmediated electronic marketplaces to e ciently allocate resources will be highly dependent on the complexity of the decision problems that agents face; determined in part by the structure of the marketplace, resource characteristics, and the nature of agents' local problems. We compare auction performance for agents that have hard local problems, and uncertain values for… CONTINUE READING
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