Optimal Posted-Price Mechanism in Microtask Crowdsourcing

@inproceedings{Hu2017OptimalPM,
  title={Optimal Posted-Price Mechanism in Microtask Crowdsourcing},
  author={Zehong Hu and Jie Zhang},
  booktitle={IJCAI},
  year={2017}
}
Posted-price mechanisms are widely-adopted to decide the price of tasks in popular microtask crowdsourcing. In this paper, we propose a novel postedprice mechanism which not only outperforms existing mechanisms on performance but also avoids their need of a finite price range. The advantages are achieved by converting the pricing problem into a multi-armed bandit problem and designing an optimal algorithm to exploit the unique features of microtask crowdsourcing. We theoretically show the… CONTINUE READING