Скачать или смотреть Noam Nisam: Auctions Between Regret-Minimizing Agents

Date: March 8, 2022
Speaker: Noam Nisan (Hebrew University)
Title: Auctions Between Regret-Minimizing Agents

Abstract:
We analyze a scenario in which software agents implemented as regret-minimizing algorithms engage in a repeated auction on behalf of their users. We study first price and second price auctions, as well as their generalized versions (e.g., as those used for ad auctions). Using both theoretical analysis and simulations, we show that, surprisingly, in second price auctions the players have incentives to mis-report their true valuations to their own learning agents, while in the first price auction it is a dominant strategy for all players to truthfully report their valuations to their agents.

Joint work with Yoav Kolumbus.

See paper on arXiv: https://arxiv.org/abs/2110.11855, as well as a related companion paper: https://arxiv.org/abs/2112.07640.